Grupo Security, the financial services conglomerate and owner of Factoring Security, the third largest factor by market share in Chile, has had its ratings confirmed by Feller Rate.
Banco Security, Grupo’s bank unit, has also had its ratings confirmed. Both companies have also received a stable outlook following an assessment of their credit profile by Feller Rate, the ratings agency.
Grupo Security incorporates an insurance company, a factoring unit, a stock brokerage and a mutual fund administrator.
Feller Rate affirmed Banco Security's ratings as follows: solvency, long-term deposits (more than 1 year), letters of credit and bonds at AA-; subordinated bonds at A+ and short-term deposits at Level 1+. Grupo Security's ratings were affirmed as follows: solvency, bonds at A and shares at First class level 3.
