S&P Global Ratings on Jan. 31 placed Intercorp Perú Ltd.'s BBB- long-term corporate credit and issue-level ratings on CreditWatch with negative implications.
The CreditWatch placement follows a similar action on InRetail Consumer, the largest operating subsidiary within Intercorp Perú's retail investments, which accounts for about 26% of its total portfolio value. Therefore, a potential credit weakness for InRetail Consumer would undermine Intercorp Perú's asset credit quality, S&P said.
The rating agency placed InRetail Consumer on CreditWatch Negative after the company announced that it acquired pharmaceutical distributor Quicorp SA for $583 million.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
