Banco del Credito del Peru's (BCP) $100 million securitization of electronic remittances, which was expected to close in mid-June, is reportedly delayed due to political instability in Peru after the controversial second-round of presidential elections. ING Barings is the arranger for the deal, which is wrapped by a monoline insurer (ASRI 3/13/2000 p.7).

"The political instability shouldn't be a problem in terms of investor reaction because the notes will go into a conduit," said a pro who is rating the deal. "However, there is a chance that pricing might change due to credit quality changes for Peru. It might make the transaction more expensive but it shouldn't deter it from being completed."

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