DBRS rates Chile bonds A (high)

DBRS said it assigned a rating of A (high) to the Republic of Chile's $1 billion 10-year global bond and $500 million 10-year Chilean peso-denominated bond.

Chile has a long-term foreign-currency debt rating of A (high).

The trend is stable.

Proceeds will be used for general government purposes as the government carries out reconstruction initiatives following the Feb. 27 earthquake and implements its social development program.

Chile's ratings are underpinned by its sound macroeconomic policy framework, low debt burden and stable political environment, the agency said.

Concerns include high income inequality, a narrow export base and energy vulnerabilities, the agency noted.

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