Moody's rates Banco de Credito notes A1

Moody's Investors Service said it assigned an A1 foreign currency senior unsecured debt rating to the proposed global fixed rate senior notes to be issued by Banco de Credito e Inversiones under Rule 144A of the Securities Act of 1933.

The outlook is stable.

Moody's said the A1 foreign currency senior unsecured debt rating is based on Banco de Credito's A1 local currency rating and is therefore unconstrained by Moody's Aa1 Chilean country ceiling for bonds and notes.

The rating takes into account the seniority of the notes and incorporates the bank's C bank financial strength rating and a3 stand-alone baseline credit assessment, which receives two notches of uplift reflecting Moody's assessment of a high probability of systemic support if needed due to the bank's important deposit and lending franchise, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.