Moody's rates Banco de Chile notes Aa3

Moody's Investors Service said it assigned an Aa3 long-term foreign-currency senior debt rating to Banco de Chile SA's CHF 175 million of fixed-rate senior notes due 2019. The outlook is stable.

The agency said Banco de Chile's ratings reflects its leading market position as one of Chile's largest banks in loans, deposits and shareholders' equity; its diversified earnings, customer and product base; and its superior financial fundamentals relative to domestic peers, including core profitability, asset quality, efficiency and tier 1 capitalization.

Moody's said the principal risk to Banco de Chile's profit performance is the potential for asset quality deterioration as the economy decelerates, particularly in the higher-risk consumer and small and midsized business segments.

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