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Banco De Chile S.A. Subordinated Notes Rated 'BBB+'; 'A-/A-2' Rating Affirmed May 06
Standard & Poors, May 2006
Abstract
BUENOS AIRES (Standard & Poor's) May 12, 2006--Standard & Poor's Ratings Services said today that it assigned its 'BBB+' foreign currency subordinated debt rating to Banco de Chile S.A.'s (Banco de Chile) upcoming $200 million 144-A subordinated notes with bullet maturity in 2016. At the same time, Standard & Poor's affirmed its 'A-/A-2' counterparty credit rating on the Chilean bank. The outlook is positive. Proceeds from the upcoming issuance will be mainly used exclusively to finance the export activities of its customers. 'The ratings on Banco de Chile S.A. reflect the bank's prominent position and strong franchise within the Chilean financial system, the success of its merger with Banco Edwards, its conservative credit policies, and above the system's average profitability,'...
Companies mentioned in this report are: Banco de Chile
Action: Affirmed
Action: New Rating
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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