Beefy balance sheet helps Peru to shock upgrade

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Beefy balance sheet helps Peru to shock upgrade

Ollanta Humala, Peru
Peru's President Ollanta Humala waves to journalist after a visit to Panama's President Ricardo Martinelli at the presidential palace in Panama City, Monday, April 28, 2014. Humala was in Panama for a few hours in a visit to strengthen relations between both countries. (AP Photo/Arnulfo Franco) | Arnulfo Franco/AP/Press Association Images

Moody’s surprised bankers and investors covering Peru last week by upgrading the country’s sovereign debt rating by two notches to A3, putting the Andean nation alongside Mexico, which made the A-grade in February.

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