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Nearly a year after its reduction, the entity reaffirmed the country's foreign currency debt rating in "A +".
A boost was received yesterday by the government's economic management, led by Finance Minister Felipe Larraín. The Standard & Poor's (S & P) agency reported maintaining Chile's risk clbadification, with a "stable" outlook.
Nearly a year after its reduction – the first time in more than two decades – the entity has reaffirmed the note of debt in Chilean foreign currency in "A +" , and in the local currency of "AA -".
In addition, he confirmed his short-term rating in Chile's foreign currency of "A -1" and in the local currency of "US $". A-1 + & # 39;
"The stable outlook reflects our expectation of continuity in Chile's economic policy over the next three years, and we hope that the country will maintain the distinctive pillars of its market economy (tax rules and monetary, openness to trade and investment, judicial security and predictability) while strengthening its social policies, "S & P said." Continuous "GDP growth, the" moderation "of their account deficits and a low level of inflation that "stabilizes" the country's public finances and external profile.
However, the rating agency warned: beware: "We could lower Chile's rating in the coming years if there was a combination of an unexpectedly loose fiscal policy and economic growth below expectations, leading to higher-than-expected budget deficits, which could help generate annual increases in public debt beyond our expectations. "
Another source of danger would be the unexpected deterioration of Chile's net external position or a substantial increase in its external financing needs. Gross could weaken his external profile, "which would also lead us to lower ratings," the agency said.
On the contrary, S & P said that the "sustained" recovery of economic growth, accompanied by prudent fiscal and monetary policies, would gradually strengthen Chile's economic base.
"This, coupled with the ongoing diversification of the economy that strengthens the country's resilience, could gradually reduce its external vulnerabilities." A better external profile of Chile could lead us to increase ratings in the next two to three years years, "concludes the report.
Bond placement for US $ 1,600 million
This S & P decision coincides with the placement of two Chilean peso bonds, with a simultaneous bid on local and international markets, scheduled for 2023 and later. 2030. On this occasion, a 10% allocation was granted to foreign investors.
bonds denominated in pesos maturing in 2023 (BTP-2023) and bonds denominated in pesos maturing in 2030 (BTP-2030), for respectively 440,000 and 610,000 million dollars.
% for debt up to 2023 and 4.85% for that agreed until 2030.
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