...October 20, 2023 - On Oct. 19, 2023, S&P Global Ratings revised its outlook on Chile to negative from stable on weaker political consensus on key parameters of the country's political and economic agenda, which over time will weigh on Chile's capacity to grow and potentially weaken its credit quality. - As a result, we revised our outlooks on Banco del Estado de Chile and Scotiabank Chile to negative from stable. We rarely rate financial institutions higher than the sovereign where they operate because we consider it unlikely that these institutions would remain unaffected by developments in domestic economies. - At the same time, we affirmed our ratings on five Chilean financial entities, incorporating the risks stemming from pressures on the sovereign's credit quality. - Our ratings on the other nine financial entities we rate in Chile remain unchanged, because their ratings are below those on the sovereign and their outlooks already reflect the pressures on the Chilean financial system....
