Should a previous default and refusal to pay on acknowledged debt be a factor in a loan decision? This question is front and center as two ratings agencies take very different views as fraud acquisitions from a senior member of Peru's high court and official government criminal charges swirl.
Two very different views on risk in Peru’s bonds
Peru's bond offerings has received two distinctly different ratings from Moody’s and Egan Jones. The relatively glowing analysis from Moody’s resulted in a positive A3 Stable rating. This conclusion comes in stark contrast to the analysis from Egan Jones, which on November 17 issued a “D” rating on disputed Peruvian Land Reform bonds...
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