CREDICORP: Fitch Ratings Confirms Stable Credit Rating & Outlook

TL;DR

**Fitch just re-affirmed Credicorp's credit rating, no changes, good news for stability.**

AI Summary

Credicorp Ltd. (NYSE: BAP) filed a 6-K on January 24, 2024, announcing that Fitch Ratings released an updated credit rating report on January 18, 2024. This update, which incorporates figures as of September 2023, confirmed that Credicorp's credit rating and rating outlook remain unchanged from the previous report dated April 21, 2023. This matters to investors because a stable credit rating from a major agency like Fitch indicates financial health and predictability, which can reassure shareholders and potential buyers about the company's ability to meet its financial obligations.

Why It Matters

A stable credit rating from Fitch Ratings signals to investors that Credicorp's financial health is consistent, which can positively influence investor confidence and the stock's perceived stability.

Risk Assessment

Risk Level: low — The filing indicates no change to Credicorp's credit rating or outlook, suggesting stable financial health and low immediate risk.

Analyst Insight

A smart investor would view this as a confirmation of Credicorp's current financial stability, suggesting no immediate need to re-evaluate holdings based on credit risk. It reinforces a 'hold' position for existing investors and provides reassurance for potential new investors.

Key Players & Entities

• Credicorp Ltd. (company) — the registrant filing the 6-K
• Fitch Ratings (company) — the credit rating agency that updated the report
• Banco de Credito del Peru (company) — Credicorp's subsidiary
• January 18, 2024 (date) — date Fitch Ratings released the updated report
• April 21, 2023 (date) — date of the previous Fitch credit rating report
• September 2023 (date) — period for which figures were updated in the report

Forward-Looking Statements

• Credicorp's stock price will likely remain stable or see a slight positive bump due to the reaffirmed credit rating. (Credicorp Ltd.) — medium confidence, target: next 1-3 months
• Credicorp will continue to maintain a stable credit profile in the near term, barring any unforeseen major economic shifts in Peru. (Credicorp Ltd.) — high confidence, target: next 6-12 months

FAQ

Filing Documents

• ef20019651_6k.htm (6-K) — 16KB
• image00001.jpg (GRAPHIC) — 4KB
• 0001140361-24-003676.txt ( ) — 23KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of January 2024 Commission File Number: 001-14014 CREDICORP LTD. (Translation of registrant's name into English) Of our subsidiary Banco de Credito del Peru: Calle Centenario 156 La Molina Lima 12, Peru (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____ January 23, 2024 Securities and Exchange Commission - SEC Re.: MATERIAL EVENT Dear Sirs: We hereby notify you as a Material Event that on January 18, 2024, Fitch Ratings released an update of Credicorp Ltd.'s (Credicorp) credit rating report dated April 21, 2023. The new report only represents an update of figures as of September 2023, while Credicorp's credit rating and rating outlook remain unchanged. The information in this Form 6-K regarding the rating of Fitch Ratings has been disclosed in Peru in conformity with Peruvian law (Article 30 of the Capital Markets Law, approved by Supreme Decree 020-2023-EF, and by the Regulation of the Disclosure of Material Events and Reserved Information approved by Resolution 005-2014-SMV/01 of the Peruvian Capital Markets Superintendency). The ratings of Fitch Ratings do not necessarily represent the opinion of Credicorp, nor should they be seen as a recommendation to buy shares or any other securities of Credicorp. Credicorp accepts no liability for the completeness, timeliness, accuracy or selection of such information. The information in this Form 6-K (including any exhibit hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act') or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act. Sincerely, /s/ Guillermo Morales Authorized Representative Credicorp Ltd. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 23, 2024 CREDICORP LTD. (Registrant) By: /s/ Guillermo Morales Guillermo Morales Authorized Representative

View Full Filing

View this 6-K filing on SEC EDGAR