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Moody’s may lower Banco de Chile
Moody's Investors Service said is placed on review for downgrade the Aa3 long-term foreign-currency senior unsecured debt rating to Banco de Chile's CHF 150 million issuance of eight-year fixed-rate senior unsecured notes due Dec. 5, 2024.
The bank’s Aa3 foreign-currency senior debt rating also is on downgrade review due to potential effects that Chile's slower economic growth may have on the bank's historically strong asset quality and robust core profitability, Moody’s explained.
The review also considers shifts in Chile’s regulatory, market and credit conditions, the agency said.
Both asset quality and earnings generation have been key strengths of the bank, Moody’s said.
Notwithstanding these concerns, the bank continues to benefit from a diversified revenue base and low funding and operating costs, the agency said.
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