Moody’s rates Banco de Chile's notes Aa3

Moody's Investors Service said it assigned a long-term foreign currency senior unsecured debt rating of Aa3 to Banco de Chile SA's €53 million 15-year fixed-rate senior unsecured notes, maturing on April 26, 2032.

The outlook is stable.

The notes are being issued under Banco de Chile's $3 billion global medium-term note program.

Moody’s said the Aa3 foreign currency senior unsecured debt rating incorporates the bank's solid risk management and leading market shares that will continue to sustain ample margins, together with the very high probability that the bank will receive government support in a situation of financial stress because of its very large deposit and loan franchises and the material systemic consequences of an unsupported failure.

The rating also benefits from Chile's solid macro fundamentals and institutional framework, the agency added.

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