Fitch: Banco Estado notes A+

Fitch Ratings said it assigned an A+ rating to Banco del Estado de Chile's (Banco Estado) CHF 100 million senior unsecured fixed-rate notes.

The senior unsecured bonds are denominated in Swiss francs, will mature April 7, 2027 and carry fixed annual interest of 0.575%, the agency noted.

The rating assigned to Banco Estado's senior unsecured notes corresponds to the bank's long-term foreign-currency issuer default rating and ranks equal to other senior unsecured debt, Fitch said.

Banco Estado's ratings are driven by the extremely high probability of support from its owner, the State of Chile, the agency said.

Banco Estado represents an important instrument of the state for developing credit policies, plays a strategic social role for the government, and has systemic importance, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.