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Banco de Chile S.A. Rating Raised One Notch To 'A'; Outlook Stable Dec 06
Standard & Poors, Dec 2006
Abstract
NEW YORK (Standard & Poor's) Dec. 22, 2006--Standard & Poor's Ratings Services said today that it raised its counterparty credit rating on Banco de Chile to 'A/A-1' from 'A-/A-2'. Stadnard & Poor's also said that the outlook on Banco de Chile is stable. 'The upgrade reflects the bank's success at consolidating its prominent competitive position and strong franchise within the Chilean financial system while maintaining good profitability, conservative credit policies, and improving asset quality,' explained Standard & Poor's credit analyst Federico Rey-Marino. 'These strengths are partially mitigated by the increased leverage derived from the bank's sustained loan growth.' After successfully accomplishing its merger with Banco Edwards in 2002, Banco de Chile remains in the country's first tier of creditworthy banks....
Companies mentioned in this report are: Banco de Chile
Action: Upgraded
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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