S&P rates Banco del Estado de Chile notes A+

S&P said it assigned its A+ issue-level rating to Banco del Estado de Chile’s CHF100 million senior unsecured medium-term notes due 2027 with a fixed rate.

The bank sold the notes under its $3.5 billion medium-term notes program.

“The rating on the notes reflects their pari passu ranking with the bank’s other senior unsecured debt obligations, and as a result, the rating is the same as the long-term issuer credit rating on the bank. The notes represent less than 0.5% of Banco Estado’s total funding base; therefore, we don’t expect this issuance to change our view of the bank’s funding profile,” said S&P in a press release.

Proceeds will be used for general corporate purposes.

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