S&P assigns Banco de Chile notes A+

Standard & Poor's said it assigned its A+ long-term issue-level ratings to Banco de Chile's (A+/stable/A-1) CHF 125 million senior unsecured notes due March 21, 2019 and CHF 150 million senior unsecured notes due March 21, 2016 (jointly for about $315 million).

"Banco de Chile has continued to diversify its funding and investor base with debt issuances outside Chile (most recently in Europe and Asia), with adequate tenures and funding costs that remain very competitive," S&P credit analyst Arturo Sanchez said in a news release.

The proceeds will be used to continue leveraging its loan portfolio growth while keeping refinancing risk manageable given the bank's debt maturity profile.

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