Moody's upgrades Banco Santander to Baa1; maintains stable outlook

Tuesday, 4 Mar 2014 08:02am EST 

Banco Santander SA:Moody's Investors Service has upgraded to Baa1 from Baa2 the debt and deposit ratings of Banco Santander.Stable outlook maintained.Moody's affirmed Banco Santander's standalone Bank Financial Strength Rating (BFSR) at C- and raised the equivalent baseline credit assessment (BCA) to baa1 from baa2.Outlook on the bank's BFSR remains stable and the bank's short-term ratings were affirmed at Prime-2.Rating actions reflect improvement in the Spanish government's creditworthiness, reflected in Moody's upgrade of Spain's government bond rating to Baa2 from Baa3 and the concurrent change of the outlook on Spain's rating to positive from stable on Feb. 21. 

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5 May 2015