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Banco de Chile S.A. Ratings Affirmed; Outlook Revised To Positive May 04
Standard & Poors, May 2004
Abstract
NEW YORK (Standard & Poor's) May 13, 2004--Standard & Poor's Rating Services said today that it affirmed its 'A-/A-2' foreign and local currency counterparty credit ratings on Banco de Chile S.A. The outlook was changed to positive from stable. The ratings on Banco de Chile S.A. reflect the bank's prominent position and strong franchise within the Chilean banking system, the success on its merger with Banco Edwards, its conservative credit policies, and good profitability. The ratings also reflect shareholders' limited financial flexibility due to its outstanding subordinated debt with the Central Bank of Chile. 'The positive outlook reveals the expectation that Banco de Chile will take advantage of its strong franchise and economies of scale to sustain its present healthy...
Companies mentioned in this report are: Banco de Chile
Action: Affirmed
Action: Outlook: Positive
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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