Fitch Ratings has assigned an 'A+' rating to Chile's bonds for EUR1.2 billion maturing in Jan. 20, 2026, and for USD1.35 billion maturing Jan. 21, 2026 -- total proceeds equivalent to approximately USD2.65 billion. The bonds have coupon rates of 1.75% and 3.125%, respectively.
Part of the proceeds was used to fund the repurchase of outstanding notes, and the rest will be used for the general budgetary purposes of the government.
KEY RATING DRIVERS
The rating is in line with Chile's long-term foreign currency Issuer Default Rating (IDR) of 'A+' with a Stable Outlook.
RATING SENSITIVITIES
The rating would be sensitive to any changes in Chile's long-term foreign currency IDR. On Nov. 13, 2015, Fitch affirmed Chile's long-term foreign currency IDR at 'A+' with a Stable Outlook.
Date of Relevant Rating Committee: Nov. 12, 2015
Additional information is available on www.fitchratings.com
Applicable Criteria
Country Ceilings (pub. 20 Aug 2015)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=869287
Sovereign Rating Criteria (pub. 12 Aug 2014)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=754428
Additional Disclosures
Solicitation Status
https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=997830
Endorsement Policy
https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31
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