IBK’s long-term rating raised by Standard & Poor’s
Lima, Peru, December 14, 2011. Intergroup Financial Services Corp. (“IFS” or “the Company”) (Bolsa de Valores de Lima: IFS) announced that Standard & Poor’s (“S&P”) raised Interbank’s Long‐Term Credit Rating to ‘BBB’ from ‘BBB‐‘, with a ‘Stable Outlook’.
Based on a press release issued yesterday by S&P, “The rating upgrade reflects Interbank’s adequate business position, adequate capital and earnings, adequate risk position, average funding, and adequate liquidity”, while “the ‘Stable’ outlook reflects S&P’s expectation that Interbank will maintain its good market position as the fourth‐largest Peruvian bank, healthy asset quality, good profitability, and adequate capitalization and liquidity for the next two
years.”
Interbank’s Chief Executive Officer, Mr. Luis Felipe Castellanos, stated, “Interbank is pleased to achieve a higher rating from S&P, which indicates the strength of Interbank’s franchise, Peru’s economic dynamism and the confidence placed in the Peruvian domestic economy by international investors.” The full version of S&P’s press release can be found at www.standardandpoors.com.
