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From March 21

LOS ANGELES (MarketWatch) -- Moody's Investors Service said Monday it has revised its outlook on Peru's Baa3 foreign- and local-currency government bond ratings to positive from stable, indicating the ratings are closer to be upgraded. The agency said the move in part reflects the likelihood that Peru's "favorable" growth prospects will be sustained alongside continued improvement of its fiscal and debt metrics. The ratings firm, in a statement outlining the outlook change, also said it will monitor the results of this year's presidential elections, as well as "the future government's commitment to maintain a policy framework that further buttresses Peru's investment appeal and economic growth prospects." Additional ratings actions may be considered over the next six to 12 months depending on the outcome, said Moody's. Voting in the first round of the presidential election is scheduled for April 10.