Japan Credit Rating Agency Publishes Banco Santander-Chile Rating and Assigns Credit Rating of A+, Outlook Stable
March 29 2019 - 12:52PM
Friday, March 29, 2019 (NYSE:BSAC). Japan Credit
Rating Agency, Ltd. (JCR) announced today the start of credit
rating coverage to Banco Santander-Chile, assigning a foreign
currency long-term issuer rating of A+, Outlook Stable. In its News
Release, JCR mentions that "The rating reflects its strong business
base in Chile, high profitability and stable earnings generation
capacity, and reasonable level of capital adequacy."
Emiliano Muratore, Chief Financial Officer
of Santander-Chile, said "to have this new rating reenforces the
position our Bank has in the market to our investors and the
market. Additionally, to have the rating of one of the most reknown
agencies in Asia enables us to deepen our exposure in these
markets, and in turn permits us to continue to diversify our
investor base".
Banco Santander Chile is the
largest bank in the Chilean market in terms of loans and assets. As
of December 31, 2018, the Bank had total assets of Ch$ 38,875
billion, net loans of provisions of Ch$ 29,807 billion, deposits of
Ch$ 21,373 billion, and total equity of Ch$ 3,332 billion. The BIS
capital ratio as of December 2018 was 13.4%, with a core capital
ratio of 10.6%. Banco Santander Chile is one of the companies
with the highest risk classifications in Latin America with an A1
rating from Moody's, A from Fitch, A from Standard and Poor's, and
A+ from Japan Credit Rating Agency.
Please see the following link to see JCR's news
release:
https://www.jcr.co.jp/download/8855171c675e8ec5c43979c98ae07821f7621d088c6dc76057/18i0082_f.pdf
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Banco Santander-Chile via Globenewswire
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