Fitch ranks Caja Los Andes as investment grade

Fitch ranks Caja Los Andes as investment grade

Corporate & Sovereign Strategy Credit Ratings S&P Global Fitch Ratings Bonds Debt Fixed Income Capital Markets Chile Peru

Fitch Ratings said it assigned a first-time rating of BBB- with a stable outlook to Chilean retirement fund manager Caja Los Andes, based on the company's leading position as a payroll lender. Caja Los Andes holds a 66% market share in the payroll loans sector in Chile and about 6% in consumer loans, including credit cards, Fitch said in a report on Tuesday. Compared to other non-bank lenders, Caja Los Andes has a historically low debt-to-equity ratio that reached 1.2 times at the end of Decembe

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