Fitch rates Chile bonds A+

Fitch Ratings said it assigned an A+ rating to Chile's global bonds due in 2022 and 2042 for a combined amount of $1.5 billion.

The ratings are in line with Chile's long-term foreign-currency issuer default rating of A+, which has a stable outlook.

The government is re-entering international capital markets with the objective of developing its external yield curve and for pre-financing purposes, Fitch said.

Chile's sovereign ratings are supported by years of prudent fiscal management, an effective and credible monetary regime anchored by a freely floating currency and an economic model based on competitive markets, the agency said.

These strengths counterbalance high commodity dependence, low per capita income and human development indicators that are weaker than category peers, Fitch said.

A moderate slowdown is expected in 2012 as export demand softens and international financial conditions remain volatile, the agency added.

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