RatingJun 9, 2026, 09:41 AM
Fitch Upgrades Credicorp and BCP to 'BBB+'; Outlook Stable
AI Summary
Fitch Ratings has upgraded Credicorp Ltd. and its main subsidiary, Banco de Credito del Peru S.A. (BCP), to 'BBB+' from 'BBB', with a Stable Outlook. The upgrade reflects BCP's solid business profile, market leadership, and a very strong financial profile, particularly its improved and sustainable profitability. BCP's Viability Rating was also upgraded to 'bbb+' from 'bbb', now one notch above Peru's sovereign rating. Credicorp's ratings are driven by BCP's ratings and are equalized due to low double leverage and sound liquidity management.
Key Highlights
- Fitch upgraded Credicorp Ltd.'s Long-Term Foreign-Currency IDR to 'BBB+' from 'BBB' with a Stable Outlook.
- Fitch upgraded Banco de Credito del Peru S.A. (BCP) Long-Term Local- and Foreign-Currency IDRs to 'BBB+' from 'BBB'.
- BCP's Viability Rating (VR) was upgraded to 'bbb+' from 'bbb', reflecting its solid business profile and strong financial profile.
- BCP's VR is now one notch above Peru's sovereign rating.
- Fitch affirmed BCP's Short-Term Foreign and Local Currency IDRs at 'F2'.
- Fitch affirmed BCP's Government Support Rating (GSR) at 'bbb-'.
- Credicorp's Long-Term Foreign-Currency IDR is equalized with BCP's rating due to low double leverage and prudent liquidity management.
- BCP's senior unsecured bonds were upgraded to 'BBB+' from 'BBB'.
Price Impact
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