Fitch gives BBB+ to Codelco notes

Fitch Ratings said it assigned a BBB+ rating to Corporacion Nacional del Cobre de Chile's (Codelco) planned $2 billion of notes consisting of $1.5 billion of senior unsecured notes due 2036 at 6.4% and the $500 million from the reopening of its last 30-year bond maturing in 2053 at 6.3%.

The rating is in line with those on Codelco’s outstanding senior unsecured notes.

The proceeds will be used for general corporate purposes.

The outlook is stable.

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