Moody’s to review Chile foreign-currency ratings for upgrade

LOS ANGELES (MarketWatch) — Moody’s Investors Service on Thursday said it will review Chile’s A2 foreign-currency ratings for a possible
upgrade, even as negative external conditions could result in an economic downturn for the country. The Chilean government “appears better to manage upcoming challenges,” relative to other rated sovereigns, said Mauro Leos, a vice president-senior credit officer at the agency, in a statement. The review will “evaluate the extent to which increased foreign asset accumulation by the government has shored up Chile’s resilience to adverse external shocks,” among other factors. Moody’s, in a separate statement, said it would review for possible upgrade the A2 long-term foreign currency ratings for rated banks, including Banco de Chile and Banco Santander Chile .
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