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Why are the reports issued by credit rating agencies important?

The credit ratings assigned by these agencies to the Chilean government reflect their assessment of the probability, or risk, that the government will fail to repay its current and future obligations. Reports on sovereign or country risk send the market a very important signal that has consequences on interest rates for borrowing for the private sector.

A better or higher rating means lower country risk, which translates into lower interest rates and borrowing costs for the government and the private sector.

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