Japan Credit Rating Agency Publishes Banco Santander-Chile Rating and Assigns Credit Rating of A+, Outlook Stable

3/29/2019, 5:52 PM (Source: GlobeNewswire)

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

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Source: Banco Santander-Chile via Globenewswire

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