Credicorp Ltd. Credit Rating Update

Fitch Ratings has upgraded Credicorp Ltd.'s and its subsidiary Banco de Credito del Peru (BCP) Long-Term Foreign Currency rating to 'BBB+' from 'BBB', with a Stable Outlook. The Short-Term IDR was affirmed at 'F2'. This upgrade is driven by BCP's strong business profile, market leadership, and robust financial performance, including improved profitability and asset quality. BCP's Viability Rating (VR) was also upgraded to 'bbb+' from 'bbb'. The ratings reflect BCP's leading position in the Peruvian financial system, sound capitalization, and stable liquidity. Credicorp's ratings are closely linked to BCP's due to its role as the main subsidiary. The report also details rating sensitivities and the rationale behind the upgrade, emphasizing the stable operating environment in Peru despite some political and economic uncertainties.