Fitch rates Scotiabank Chile bonds A+

Fitch Ratings said it assigned an expected rating of A+ to Scotiabank Chile SA's CHF 175 million of 0.385% senior unsecured fixed-rate notes due 2026.

“The rating assigned to SBC's senior unsecured fixed-rate bonds corresponds to the bank's long-term, foreign currency issuer default rating (IDR) of A+ and ranks equal in right of payment with all other unsecured debt, considering the probability of default of the bonds is the same of the issuer,” Fitch said in a press release.

The proceeds will be used for general banking and corporate purposes, including capital expenditure requirements.

The outlook is negative.

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