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S&P rates Scotiabank Chile notes A
S&P said it assigned its A issue-level rating to Scotiabank Chile's $125 million of senior unsecured Formosa medium-term notes due 2026.
“The rating on the notes reflects their pari passu ranking with the bank's other senior unsecured debt obligations, and as a result, it's the same as the long-term issuer credit rating on the bank. The notes only represent about 0.3% of Scotiabank Chile's total funding base, and therefore we don't expect the issuance to change our view of the bank's funding profile,” the agency said in a press release.
The bank will use the proceeds primarily for general corporate purposes.
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