*International credit ratings agency Standard & Poor’s (S&P) has lowered its long-term foreign currency rating for Peru from ‘BBB’ to ‘BBB-’, and its local currency rating from ‘BBB+’ to ‘BBB’. The outlook on both ratings remains stable. An S&P statement said that the downgrade reflects the fragmentation of congress and the “limited political capital” of President Dina Boluarte’s government, which “weigh on private sector investment sentiment and pose an opportunity cost to growth”.
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