Fitch gives Scotiabank Chile bonds A+

Fitch Ratings said it gave an A+ rating to Scotiabank Chile SA's (SBC) CHF 110 million of senior unsecured fixed-rate notes. The senior unsecured bonds mature on March 31, 2027, and carry a fixed annual coupon rate of 0.418%.

“The rating assigned to SBC's senior unsecured fixed-rate bonds corresponds to the bank's long-term (LT) foreign-currency issuer default rating (IDR) of A+, 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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