© Reuters. A demonstrator prepares to throw back a tear gas canister during a protest demanding the dissolution of Congress and to hold democratic elections rather than recognize Dina Boluarte as Peru’s President, after the ousting of Peruvian President Pedro Castil
(Reuters) – Global ratings agency S&P Global (NYSE:) cut Peru’s outlook to negative from stable, citing risks to the sovereign’s credit worthiness from a political standstill and challenging relationship between the country’s executive and legislative branches of government.
S&P said the way Peru’s most recent change in power occurred reflects heightened political deadlock, and it increases risks ahead.
The agency affirmed its ‘BBB’ long-term foreign currency and ‘BBB+’ long-term local currency sovereign credit ratings.
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