S&P rates Scotiabank Chile A

S&P said it assigned an A global scale issuer credit rating to Scotiabank Chile.

The ratings on Scotiabank Chile reflect that its operations benefit from its status as a strategically important subsidiary to its parent, the Bank of Nova Scotia, S&P said.

The ratings also consider the bank's good competitive position, adequate forecasted risk-adjusted capital ratio and healthy asset quality metrics, despite its consumer segment focus, the agency said.

S&P also said it believes the bank's funding and liquidity benefits from ongoing support from its parent.

The stable outlook on Scotiabank Chile for next 24 months reflects a view that the bank will maintain its good competitive position, the agency said.

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