Moody's rates Banco de Credito notes A2

Moody's Investors Service said it assigned an A2 rating to Banco de Credito e Inversiones' $54 million of fixed-rate senior unsecured notes due Dec. 3, 2029. The notes will have a 2.365% fixed coupon and will be governed by New York law.

“Bci's A2 senior debt rating is based on an adequate profitability that will continue to be supported a diversified business mix and cost controls, as well as sound access to core deposits,” Moody’s said in a press release.

The proceeds will be used to finance or refinance projects that fall within the scope of the green project categories, as defined by the bank.

The outlook is stable.

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