Fitch Rates Chile's EUR950 Million 2030 Bonds 'A+'

NEW YORK--()--Fitch Ratings has assigned an 'A+' rating to Chile's bonds for EUR950 million maturing May 27, 2030. The bonds have a coupon rate of 1.875%. The bonds were issued concurrently with a re-opening of Chile's EUR800 2025 bonds for an additional EUR440 million, also rated 'A+' by Fitch.

The proceeds 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 May 6, 2015, Fitch affirmed Chile's long-term foreign currency IDR at 'A+' with a Stable Outlook.

Date of Relevant Committee: May 5, 2015

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Sovereign Rating Methodology' (Aug. 12, 2014);

--'Country Ceilings' (Aug. 28, 2014).

Applicable Criteria and Related Research:

Sovereign Rating Methodology -- Effective 15 Aug 2011 to 13 Aug 2012

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=648978

Country Ceilings

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=752194

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=985073

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst
Todd Martinez
Associate Director
+1-212-908-0897
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Shelly Shetty
Senior Director
+1-212-908-0324
or
Committee Chairperson
Tony Stringer
Managing Director
+ 44 20 3530 1219
or
Media Relations:
Elizabeth Fogerty, New York, +1 212-908-0526
Email: elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Todd Martinez
Associate Director
+1-212-908-0897
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Shelly Shetty
Senior Director
+1-212-908-0324
or
Committee Chairperson
Tony Stringer
Managing Director
+ 44 20 3530 1219
or
Media Relations:
Elizabeth Fogerty, New York, +1 212-908-0526
Email: elizabeth.fogerty@fitchratings.com