S&P rates Banco de Chile notes A

S&P said it assigned its A issue-level rating on Banco de Chile's (A/stable/A-1) proposed ¥10 billion senior unsecured notes due June 3, 2039.

“Our rating on the notes reflects their pari passu ranking with Banco de Chile's other senior unsecured debt obligations. As a result, the rating is the same as the long-term issuer credit rating on the bank,” S&P said in a news release.

“The notes constitute only about 0.2% of Banco de Chile's total funding base. Therefore, this issuance doesn't change our view of the bank's funding profile and doesn't increase refinancing risk.”

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