S&P downgrades Peru to "BBB"

S&P downgrades Peru to "BBB"

The agency S&P lowered Peru’s credit rating by one notch to “BBB” on Friday, saying the country’s political deadlock is undermining efforts to maintain investor confidence and limiting growth prospects.

The Peruvian President peter castleHe faces corruption charges, which he denies.

S&P he said the political gridlock is likely to continue to erode business confidence.

The agency assigned a stable outlook to the rating of Peru.

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