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S&P affirms Mibanco's ratings

S&P Global Ratings on Oct. 10 affirmed its BBB/A-2 issuercredit ratings on Mibanco Banco dela Microempresa SA, with a stable outlook.

The issuer credit rating on the bank reflects its status as acore subsidiary of Banco de Créditodel Perú, the rating agency said, noting that Mibanco accounts for about8.4% of the group's total assets as of June 2016. S&P also believes it "highlyunlikely" that the unit would be sold off.

The rating agency said that the stable outlook reflects thaton its parent company.

Mibanco's asset quality and profitability are expected to improvedespite strict underwriting standards, S&P noted.

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