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CHILE: MOODY'S AFFIRMS BANCO DE CHILE RATINGS IN LIGHT OF PLANNED MERGER WITH CITIBANK CHILE.

Publication: IPR Strategic Business Information Database
Publication Date: 22-JUL-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Moody's Investors Service affirmed the B-minus bank financial strength rating of Banco de Chile (BCH) following the announcement that its owner, Chilean investment holding company Quinenco, has agreed to merge BCH with Citigroup's operations in Chile. Citigroup (Citi) has agreed to buy a 32.96% stake in LQIF, the unit through which Quinenco controls Banco de Chile. The agreement entails the...

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