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Fitch affirms rating of BBVA Chile

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Fitch affirms rating of BBVA Chile

FitchRatings said March 30 that it affirmed the national scale rating of at AA(cl), with a stable outlook.

The ratingsreflect the high probability of support BBVA Chile will receive from itsparent, Banco Bilbao VizcayaArgentaria SA, as Fitch considers the Chilean unit strategicallyimportant for BBVA.

The bank'smoderate scale of operations, the predominance of commercial loans andmortgages with a lower spread in its portfolio, and the low level of currentaccounts limit the level of return on bank assets, Fitch said. However, thebank historically has shown good asset quality, the rating agency noted.