Moody's rates Banco del Estado de Chile notes Aa3

Moody's Investors Service said it assigned an Aa3 long-term foreign-currency senior debt rating to Banco del Estado de Chile's ¥24 billion issuance of senior notes due 2018. The outlook is stable.

The agency said the bank's ratings reflect its broad client and geographic coverage that ensures access to a stable, low-cost core deposit base; its robust liquidity and its stable asset quality.

The bank's leaner pre-tax profitability and capitalization metrics relative to similarly rated peers in Chile and the region are key risk factors for Banco del Estado de Chile, Moody's said, though they in part reflect its social mission and implicit government support.

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