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Banco de Chile's MXN1.5 Billion Certificados Burs?tiles Assigned 'A' Rating Jan 12
Standard & Poors, Jan 2012
Abstract
BUENOS AIRES (Standard & Poor's) Jan. 6, 2012--Standard & Poor's Ratings Services assigned an 'A' rating to Banco de Chile's MXN1.5 billion Certificados Burs-tiles due Dec. 4, 2014, which it issued on Dec. 8, 2011. The bank will use the proceeds to fund its operations. The certificates rank pari passu with the bank's senior unsecured debt. Standard & Poor's bases its ratings on Banco de Chile on its 'strong' business position, 'adequate' capital and earnings, 'adequate' risk position, 'average' funding, and 'adequate' liquidity (as defined by our criteria). The ratings also reflect our view of a moderately high likelihood of government support, based on Banco de Chile's high systemic importance in Chile and our assessment of the government as 'supportive'...
Companies mentioned in this report are: Banco de Chile
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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