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Banco de Chile S.A.'s Ratings Affirmed; Removed from CreditWatch Negative Apr 99
Standard & Poors, April 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) April 7, 1999--Standard & Poor's today affirmed its counterparty credit and certificate of deposit ratings on Banco de Chile at single-'A'-minus/'A-2'. The ratings were removed from CreditWatch Negative where they were placed on Jan. 14, 1999, and a negative outlook assigned. The affirmation is based on Banco de Chile's prominent position and strong franchise within the Chilean banking system; strong asset quality aided by its conservative approach to lending, loan classification and provisioning; superior technology; good profitability and operating efficiency; and stable deposit base. These positive factors are partially offset by the competitive dynamics of the Chilean market and the bank's somewhat constrained financial flexibility, given the subordinated debt obligation of its parent holding...
Companies mentioned in this report are: Banco de Chile
Action: Affirmed, Off CreditWatch
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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