MONTERREY, Mexico--(BUSINESS WIRE)--Fitch Ratings has withdrawn the 'BBB-(EXP)' Long-term Local Currency Rating for
Metropolitan Municipality of Lima's (MML) proposed bond issuance of up to PEN 593 million.
Fitch has withdrawn the expected rating that it assigned in August 2013 because the transaction will not convert to a final rating.
The Long-term foreign and local currency rating for MML is 'BBB-' with a Positive Rating Outlook. MML accounts for 48% of Peru's GDP and for 30% of its population. As such, it is the most important subnational administration in the country and has special status within the administrative system.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--Tax-Supported Rating Criteria (August 2012)
--International Local and Regional Governments Rating Criteria (April 2013)
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=806539
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