Fitch rates Santander Chile notes A+

Fitch Ratings said it assigned an A+ foreign currency long-term rating to Banco Santander Chile's $500 million of senior notes due 2012.

Fitch said it currently rates the bank as follows: issuer default rating A+, short-term issuer default rating F1, long-term national rating AAA(cl), short-term national rating N1+(cl), individual B, support 1 and support rating floor NF.

The outlook for the long-term issuer default rating is stable.

According to the agency, Santander Chile's ratings reflect the potential support from Spain's Banco Santander given the bank's strategic importance and integration with its parent, as well as its strong profitability, healthy asset quality, leading market share and good capital adequacy.

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