S&P: Banco de Credito bonds A

Standard & Poor’s said it assigned an A rating to Banco de Credito e Inversiones’s proposed CHF 150 million senior unsecured bonds due 2018.

The rating on the bonds is the same as the bank’s long-term issuer credit rating as the bonds will rank pari passu in right of payment with all of its unsecured debt obligations, S&P said.

The proceeds will be used to continue financing its loan portfolio growth and for general corporate purposes, the agency said.

The ratings reflect the BBB+ anchor for banks operating primarily in Chile, its strong business position, adequate capital and earnings and adequate risk position, S&P said.

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