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S&P rates Banco de Credito notes A-
S&P said assigned its A- issue-level rating to Banco de Credito e Inversiones' new CHF 200 million of senior unsecured notes due April 2027.
“The rating on the notes reflects their pari passu ranking with the bank's other senior unsecured debt obligations, and as a result, it's the same as the long-term issuer credit rating on the bank. The new issuance accounts for about 0.3% of BCI's total funding base. Therefore, we don't expect the issuance to change our view of the bank's funding profile,” S&P said in a press release.
The bank will use the proceeds primarily for financing green eligible activities, as defined by the issuer.
The outlook is stable.
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