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Banco de Chile S.A. 'A-/A-2' Ratings Affirmed After Merger with Banco Edwards Approved Dec 01
Standard & Poors, Dec 2001
Abstract
NEW YORK (Standard & Poor's) Dec. 20, 2001--Standard & Poor's today affirmed its single-'A'-minus long-term and 'A-2' short-term counterparty credit and CD ratings on Banco de Chile S.A. (Banco de Chile) after the completion of all the steps for the final approval of the merger with Banco de A. Edwards (Banco Edwards). The ratings outlook is stable. The transaction was recently approved by the boards of directors of both institutions, as well as by the Central Bank of Chile and Chile's banking regulators, in accordance with the laws on mergers. After a preliminary valuation of both entities, Banco de Chile and Banco Edwards would each hold 66% and 34%, respectively, of the resulting entity. The terms of exchange would be...
Companies mentioned in this report are: Banco de Chile
Action: Affirmed
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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