2013-02-05 20:15:22 -
The following rating is assigned to Banco Santander Chile's commercial paper
Short Term Foreign Currency Debt Rating: Prime-1
February 05 2013, Moody's Investors Service has assigned a Prime-1 short term
foreign currency debt rating to Banco Santander Chile (Santander Chile)'s US$ 5
Billion commercial paper note program. The program allows for note maturities
of up to 397 days.
The Prime-1 rating assigned to Santander Chile US commercial paper program is
based on the banks Aa3 long term foreign currency deposit and debt ratings.
Moody's noted that the rating is contingent upon a maximum total program amount
of US$ 5 Billion as well as immediately available and sufficient US dollar
liquidity in the United States to support the program.
Santander Chile's Aa3 long-term deposit and debt rating incorporates two notches
of uplift from
the bank's a2 base line credit assessment (BCA) and reflects
Moody's assumption of a high probability of systemic support given the
importance of its deposit and loan franchise.
Manager, Investor Relations Department
Banco Santander Chile, Bandera 140 Piso 19
Tel: (562) 2320-8284
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Source: Banco Santander-Chile via Thomson Reuters ONE