Moody's Investors Service is mulling a boost into investment grade for Peru, as it cited the country's track record of stable economic policymaking and reduced risks from the economy's relatively high degree of dollarization.
"The review reflects signs of increased shock-absortion capacity in the face of adverse external conditions", said Mauro Leos, Moody's regional credit officer for Latin America.
Moody's stated its ratings review will examine the implementation of the government's new multi-anual policy framework, which appears consistent with an improving credit profile.
The agency will place particular emphasis on the prospects for further reductions in the government's foreign currency exposure, which together with progressive de-dollarization of the banking system has lowered susceptibility to financial event risk.
evaluate would evaluate how quickly the economy can return to faster growth and was monitoring the country's relative performance during the global economic and financial crisis.
Leos added that another focus of the review will be to evaluate how quickly the economy can return to faster growth.
"A recovery of economic momentum would facilitate a swift correction int he fiscal position consistent with the guidelines defined by the country's fiscal responsibility law", Leos noted.
The review will also focus on further reductions in the government's foreign currency exposure, which together with progressive de-dollarization of the banking system has lowered its financial risks.
Moody's has been in the process of dividing which nations survived the global recession as winners or losers. Last week, Moody's raised its government bond ratings on Brazil into investment grade.
A similar upgrade could be on the horizon for Peru, with its Ba1 foreign-currency government bond rating on watch for upgrade. That rating is one notch below investment grade. Moody's last upgraded its ratings by one notch in August 2008.
"The review reflects signs of increased shock-absortion capacity in the face of adverse external conditions", said Mauro Leos, Moody's regional credit officer for Latin America.
Moody's stated its ratings review will examine the implementation of the government's new multi-anual policy framework, which appears consistent with an improving credit profile.
The agency will place particular emphasis on the prospects for further reductions in the government's foreign currency exposure, which together with progressive de-dollarization of the banking system has lowered susceptibility to financial event risk.
evaluate would evaluate how quickly the economy can return to faster growth and was monitoring the country's relative performance during the global economic and financial crisis.
Leos added that another focus of the review will be to evaluate how quickly the economy can return to faster growth.
"A recovery of economic momentum would facilitate a swift correction int he fiscal position consistent with the guidelines defined by the country's fiscal responsibility law", Leos noted.
The review will also focus on further reductions in the government's foreign currency exposure, which together with progressive de-dollarization of the banking system has lowered its financial risks.
Moody's has been in the process of dividing which nations survived the global recession as winners or losers. Last week, Moody's raised its government bond ratings on Brazil into investment grade.
A similar upgrade could be on the horizon for Peru, with its Ba1 foreign-currency government bond rating on watch for upgrade. That rating is one notch below investment grade. Moody's last upgraded its ratings by one notch in August 2008.
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