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S&P affirms Cofide's ratings

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S&P affirms Cofide's ratings

S&P Global Ratings on May 10 affirmed its BBB+/A-2 ratingon Corporación Financiera de DesarrolloSA.

The outlook is stable, S&P said.

The ratings reflect the development bank's stand-alone creditprofile of "bbb" and S&P's view of a high likelihood that Peru wouldprovide extraordinary and timely support to the bank in the event of financial distress.

The high likelihood of support is based on the bank's role aspromoter and source of financing for investments and public and private infrastructureprojects in Peru, as well as a very strong link with the government, which owns99% of the bank.

S&P Global Ratingsand Global Market Intelligence are owned by S&P Global Inc.