S&P: Banco de Chile notes A+

Standard & Poor's said it assigned an A+ long-term rating to Banco de Chile's ¥11.1 billion senior unsecured notes.

The notes will mature Nov. 25, 2016 and are drawdown from the bank's $2 billion medium-term notes program.

As it has happened over the past few months, Banco de Chile keeps diversifying its funding sources by continuing to access the European and Asian capital markets, S&P said.

A diversified funding base allows the bank to better manage refinancing risk while leveraging on its loan portfolio growth, said Arturo Sanchez, an S&P analyst.

These notes are rated the same as the bank's long-term issuer rating, reflecting their pari passu ranking in right of payment with all of Banco de Chile's senior unsecured debt obligations, Sanchez said.

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