TEXT-Fitch cuts Abbey National Trust preferred securities to 'BBB-'
June 13 - Fitch Ratings has downgraded Abbey National Capital Trust 1's USD1bn, non-cumulative, trust preferred securities (ISIN: US002927AA95) to 'BBB- from 'BBB'. The securities are guaranteed by Santander UK. The rating action follows the downgrade of Santander UK to 'A' (see "Fitch Downgrades Santander and BBVA to 'BBB+'/Negative Outlook Following Sovereign Action" dated 11 June 2011 at www.fitchratings.com). Additional information is available at www.fitchratings.com. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings. Applicable criteria: 'Global Financial Institutions Rating Criteria', dated 16 August 2011; 'Rating Bank Regulatory Capital and Similar Securities', dated 15 December 2011; are available at www.fitchratings.com. Applicable Criteria and Related Research: Global Financial Institutions Rating Criteria Rating Bank Regulatory Capital and Similar Securities
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