S&P gives Banco de Chile notes A

S&P Global Ratings said assigned its A issue-level rating to Banco de Chile's $500 million of senior unsecured fixed-rate notes due 2031.

“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 notes represent about 1% of Banco de Chile's total funding base and 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 general corporate purposes.

The outlook is negative.

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