Fitch to rate Coopeuch notes BBB

Fitch Ratings said it expects to assign a rating of BBB(EXP) to Cooperativa del Personal de la Universidad de Chile Ltda.'s (Coopeuch) upcoming Swiss franc-denominated fixed-rate senior unsecured notes.

The estimated amount of the issue is CHF 120 million with an estimated tenor of four years.

The issuance is under Coopeuch's global medium-term note program (BBB) and will rank pari passu with any current or future senior unsecured debt.

The expected rating is in line with Coopeuch's long-term foreign currency issuer default rating of BBB. Fitch affirmed the issuer default rating on June 29 and revised its outlook to positive from stable.

Fitch said the ratings are underpinned by Coopeuch's consistent track record of operating profitability in excess of 5% of risk weighted assets, ample capitalization and stable asset quality and steadily diversifying funding.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.