S&P’s upgrade of Peru’s debt rating to BBB

Peru’s dollar bond yields fell to a nine-month low while stocks and the currency gained after Standard & Poor’s raised the country’s foreign debt rating.

The yield on the nation’s benchmark 6.55 percent dollar- denominated bond due 2037 fell nine basis points, or 0.09 percentage point, to 4.99 percent at 4:20 p.m. New York time. The bond’s price rose 1.44 cents to 122.36 cents per dollar. S&P raised Peru to BBB, the second-lowest investment grade, from BBB- and gave the rating a stable outlook, pointing to signs President Ollanta Humala will continue policies that made the country the region’s fastest-growing economy.

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