Peru’s Ministry of Economy and Finance (MEF) approved the hiring of credit rating agencies Fitch Ratings Limited and Standard & Poor’s Rating Services to assess Peru’s sovereign risk.
According to ministerial resolutions published in the official gazette El Peruano, the head at the General Office of Administration has been authorized to sign the contract with both companies on behalf of the Ministry.
The document states that, according to the General Law of the National System of Indebtedness, MEF is authorized to contract legal and financial specialized consultancy services, directly or indirectly related to the object of the regulation.
Fitch Ratings Limited provides sovereign risk rating services through a comprehensive assessment of a country’s economic, social and political aspects based on its own methodology, which has an unusual and unique meaning in the market.
Meanwhile, Standard & Poor’s Rating Services provides sovereign risk rating services by evaluating the behavior of quantitative variables such as macro-economic indicators related to the economic structure, monetary and fiscal flexibility, among others.
(END) JCC/JCC/RMB/MVB
Published: 4/28/2015