Moody's gives Banco de Credito notes A2

Moody's Investors Service said it gave an A2 foreign-currency senior unsecured debt rating to Banco de Credito e Inversiones' (Bci) CHF 200 million green fixed-rate senior unsecured notes. The notes will have a fixed coupon and will mature on April 26, 2027.

“Bci's A2 senior unsecured debt rating reflects the bank's adequate profitability, which is supported by its diversified business mix and efficient operations, and commitment to maintaining stable capitalization. Moody's expects that Bci's strong risk management policies will continue to limit asset risks despite its recent acquisitions, which increased its exposure to low-income consumer lending in Chile and commercial real estate in South Florida,” the agency said in a press release.

The proceeds will be used to finance or refinance new or existing eligible green assets that are aligned with renewable energy, clean transport, energy efficiency, sustainable water and wastewater management.

The outlook is positive.

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