Fitch gives Banco BICE bonds BBB+

Fitch Ratings said it gave an expected BBB+ rating to Banco BICE's planned CHF 100 million of senior unsecured fixed-rate notes due October 2026.

“The rating assigned to BICE's senior unsecured fixed-rate bonds corresponds to the bank's long-term, foreign currency issuer default rating (IDR) of BBB+, considering the probability of default of the bonds is the same as the issuer,” Fitch said in a press release.

The proceeds will be used for general banking and corporate purposes.

The outlook is stable.

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