S&P assigns A+ to Banco de Chile notes

S&P Global Ratings said it assigned its A+ issue-level rating to Banco de Chile's (A+/stable/A-1) senior unsecured notes for CHF 150 million. The notes will mature in December 2024 with a fixed rate coupon of 0.25%.

The issuer credit ratings on Banco de Chile reflect S&P’s opinion of the bank’s strong business position, adequate capital and earnings, strong risk position and average funding with adequate liquidity, S&P said in a news release.

“The notes represent around 0.4% of the bank's total funding base as of September 2016. As a result of these notes' eight-year tenure, we view refinancing risk as limited,” said S&P analyst Rafael Janequine in the news release.

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