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Banco del Estado de Chile Local Currency Outlook Revised to Stable; Ratings Affirmed Jun 01
Standard & Poors, June 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) June 1, 2001--Standard & Poor's today affirmed its counterparty credit and CD ratings on Banco del Estado de Chile (BECH) (see list below). The outlook on its foreign currency ratings remains stable, while the outlook on its local currency ratings has been revised to stable from negative. The outlook revision is based on BECH's improved asset quality, its diversified funding base and strong liquidity, and government ownership. BECH is the only government-owned bank, fulfilling specific social tasks, such as savings and home ownership promotion. Historically, it has been the leading depository for savings accounts because of its good reputation and conservative management. It has the country's largest branch network, and a significant customer base...
Companies mentioned in this report are: Banco del Estado de Chile,Banco Santander-Chile,Banco de Chile
Action: Outlook Revised
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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