March 27, 2019 |
Canadian lender's subsidiary is in a "good competitive position," rating agency says
S&P Global has assigned an A rating to Scotiabank's subsidiary in Chile, saying the bank is in a competitive position with adequate support from its parent company.
"We believe Scotiabank Chile is a strategically important subsidiary for [Scotiabank], which owns 75.7% of the bank's equity," S&P said in a report.
S&P also said Scotiabank Chile has an "adequate" risk-adjusted capital ratio and enough cash on hand to meet its short-term debt obligations.