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Banco del Estado de Chile's $1 Billion Proposed Medium-Term Notes Program Rated 'A+' Jan 12
Standard & Poors, Jan 2012
Abstract
BUENOS AIRES (Standard & Poor's) Jan. 24, 2012--Standard & Poor's Ratings Services has assigned an 'A+' rating to Banco del Estado de Chile-s (A+/Positive/A-1) proposed $1 billion medium-term notes program. The rating on the notes is the same as the issuer credit rating on Banco Estado, which reflects that the notes will rank equally in right of payment with all of the bank's other senior unsecured obligations. We expect that the bank will use the net proceeds from the sale of each series of notes issued under the program for general banking purposes. The ratings on Banco Estado reflect the bank's 'strong' business position, 'moderate' capital and earnings, 'adequate' risk position, 'above average' funding, and 'adequate' liquidity (as defined by...
Companies mentioned in this report are: Banco del Estado 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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