Chile

Factorline expects to grow loans 18% in 2007 and expand the scope of services lent due to a recent agreement inked with IFC.

IFC has invested US$15m for an 18% stake in Chilean factoring company Factorline

Humphreys has assigned its A- rating to Factorline's peso20bn 10-year bonds.

Chilean ratings agency Feller has affirmed its ratings on the local credit insurance unit of France's Coface at AA- with a stable outlook.

The Chilean unit of Spain's BBVA plans to become one of the financial system's top four players in the factoring business by 2010 through a soon to be created unit to tap SMEs.

Chile's banks are likely to see default rates continue edging up in the second half this year but they are set to remain below 1% of total loans, Merrill Lynch and Chilean financial services firm Celfin reported.

Fitch has assigned an A- rating to Chilean factoring company Factorline's first line of peso20bn 10-year bonds.

IFC is considering a 20% stake in Chilean factoring firm Factorline through an equity investment of up to US$12m .

Fitch has assigned an AAA rating to the 10-year, peso55.6bn (US$105m) bonds issued by Chile's HNS Banco, 47% of whose loan portfolio comes from factoring and leasing operations.

Small- and medium-sized (SME) oriented HNS Banco commands a 0.29% loan market share, with 47% of its loan portfolio coming from leasing and factoring operations.