Moody's has entered into a Technical Services Agreement with Equilibrium, a rating agency that provides credit rating and research services in Peru, El Salvador, and Panama. Headquartered in Lima, Peru, Equilibrium has been operating since 1996.

Equilibrium has a well established local presence in Peru and key regions of Central America. Moody's provides Equilibrium with technical support and analyst training based on its globally recognized credit analysis techniques for companies, municipal governments, financial institutions and structured financings. Equilibrium will continue to provide domestic rating services, rendering opinions on the relative creditworthiness of issuers and issues within Peru, El Salvador, and Panama. Separately, Moody's will continue to assign globally comparable ratings for domestic as well as cross-border financings in Peru, El Salvador, and Panama.