Standard & Poor's affirms Banco Santander SA's ratings-Dow Jones

Friday, 20 Dec 2013 01:10pm EST 

Banco Santander SA (Santander):Standard & Poor's (S&P) affirms ratings on Santander at BBB/A-2 and removing the long-term rating from CreditWatch with positive implications, where it was placed on Nov. 22-Dow Jones.S&P also affirms our ratings on Santander's subsidiary Santander Consumer Finance S (SCF) at BBB-/A-3 and on Puerto Rico-based subsidiaries, Santander Bancorp and Banco Santander Puerto Rico, and removing them from CreditWatch with positive implications.S&P revises to stable from negative the outlook on U.S.-based subsidiaries, Santander Holdings USA Inc. (SHUSA) and Santander Bank N.A.According to S&P, the stable outlook on Santander mirrors the stable outlook on the long-term rating on Spain.This reflects also a view that, at the current level, the ratings on Santander remain constrained by the creditworthiness of the Spanish sovereign.In turn, the stable outlooks on SCF, Santander Bancorp, Banco Santander Puerto Rico, SHUSA, and Santander Bank N.A. mirror that on its parent. 

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