Fitch rates Banco BTG Pactual Chile BBB-

Fitch Ratings said it assigned a BBB- long-term foreign- and local-currency issuer default rating to Banco BTG Pactual Chile.

` BTG Chile's IDRs are based on the bank's viability rating. The VR is highly influenced by its company profile, which is driven by a small, albeit growing, franchise as a bank, a long track record and market position in asset management, wealth management and brokerage services and a relatively diversified business base, which has resulted in a good financial profile, Fitch said.

“The bank is wholesale self-funded in local market and does not rely on its parent's (Banco BTG Pactual) facilities. BTG Chile's growing profitability, sound asset quality, solid capitalization and adequate liquidity management counterbalance the relatively recent track record of the company as a bank in Chile,” Fitch said in a press release.

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