Fitch rates Codelco notes A-

Fitch Ratings said it assigned an A- rating to Corporacion Nacional del Cobre de Chile’s (Codelco) senior unsecured notes due 2030 and 2050. The settlement date is expected to be Jan. 14, 2020.

Proceeds will be used to primarily refinance debt and for general corporate purposes.

The new notes improve the company’s liquidity position and amortization profile over the medium term, and are not expected to affect Codelco’s credit profile, Fitch said.

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