Moody's assigns Banco de Chile notes Aa3

Moody's Investors Service said it assigned an Aa3 long-term foreign currency senior unsecured debt rating to Banco de Chile SA's proposed issuances of CHF 125 million of fixed-rate senior notes maturing in March 2019 and of CHF 150 million in floating-rate senior bonds maturing March 2016.

The bonds will be governed by the laws of Switzerland.

The outlook is stable.

Moody's said Banco de Chile's Aa3 foreign currency senior debt rating is derived from the bank's Aa3 global local currency deposit rating and is therefore unconstrained by Moody's Aa1 country ceiling for foreign currency bonds and notes.

The deposit rating incorporates the bank's a1 standalone baseline credit assessment that maps from a B- standalone bank financial strength rating and receives one notch of uplift reflecting Moody's assessment of systemic support because of the bank's large deposit and loan franchise.

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