Ueno Bank S.A.'s Proposed Senior Unsecured Notes Rated 'BB'

BUENOS AIRES (S&P Global Ratings) Jan. 17, 2025--S&P Global Ratings today assigned its 'BB' issue rating to Ueno Bank S.A.'s (BB/Stable/--) proposed senior unsecured notes, with up to five years tenor, subject to market conditions. The bank will use the proceeds for general corporate purposes, including financing growth opportunities and credit origination. Our rating on the notes is at the same level as our issuer credit rating on Ueno Bank because of the notes' seniority. We don't expect the issuance to change our view of the bank's funding profile. Our rating on Ueno Bank reflects its reasonably good position in the consumer and microcredit segments in Paraguay, bolstered by effective branding and innovative digital solutions--both of which have facilitated the

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