The following rating is assigned to Banco Santander Chile's commercial paper program;
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.
CONTACT INFORMATION:
Robert Moreno
Manager, Investor Relations Department
Banco Santander Chile, Bandera 140 Piso 19
Santiago, Chile
Tel: (562) 2320-8284
Email: rmorenoh@santander.cl
Website: www.santander.cl