news agency
Fitch maintains its negative outlook on the Municipality of Lima

Fitch maintains its negative outlook on the Municipality of Lima

Although, the rating agency took the Independent Credit Profile of the municipality managed by Rafael López Aliaga to negative terrain.

  • Bonus and Christmas bonus 2023: which workers receive full salary in July and who only S/300?
  • Price of the dollar today in Peru: what is the exchange rate for this Friday, June 30?

Fitch Ratings maintained the long-term foreign and local currency issuer default rating (IDR) of the Metropolitan Municipality of Lima (MML) at negative.

It is worth noting that since November of last year the MML — now managed by Rafael López Aliaga — saw its reputation diminish as a result of the deterioration of Peruvian political stability.

In addition, Fitch downgraded MML’s Independent Credit Profile (SCP) from -aa to bbb+, which according to the agency remains above Peru’s sovereign rating (BBB/negative).

“Their negative outlook reflects the Outlook on the sovereign’s IDRs,” they added in a statement.

Fitch concludes that the lower SCP is mainly due to the change in the risk profile of the municipality, and with it, the risk profile of the Municipality of Lima is similar to that of other Latin American local and regional governments.

A month ago, Moody’s also reduced the outlook for the Municipality of Lima’s credit rating to negative due to uncertainty about the ability to manage Rafael Lopez Aliaga to improve their resource holdings over the next 2-3 years, “which increases liquidity risks.”

Source: Larepublica

You may also like

Hot News

TRENDING NEWS

Subscribe

follow us