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Fitch assigns ratings to Chile's Scotia Corredora de Bolsa

Fitch Ratings on Dec. 28 assigned long-term and short-term national scale ratings to Scotia Corredora de Bolsa Chile SA at AAA(cl) and N1+(cl), respectively.

The outlook on the long-term rating is stable.

The ratings are based mainly on expected support from the brokerage firm's majority owner, Scotiabank Chile, which has AAA(cl) rating on the national scale.

The parent company easily would be able to provide any required support to Scotia Corredora de Bolsa, as it represents just 0.2% of the bank's assets, Fitch noted.