Moody's gives A1 to Banco de Chile notes

Moody's said it assigned an A1 rating to Banco de Chile's $50 million fixed-rate senior unsecured notes maturing on Oct. 2, 2028.

The issue has a stable outlook.

“Banco de Chile's A1 senior debt rating reflects the bank's strong asset quality, robust profitability and stable, low cost retail deposit funding, although capitalization remains moderate by global standards. The bank's ratings are also supported by Chile's solid macro fundamentals and institutional framework,” Moody’s said in a news release.

“The rating also considers the very high probability that the bank's bondholders will receive support from the Chilean government (A1 stable) in a situation of financial stress because of the material systemic consequences of an unsupported failure.”

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