Fitch upgrades Banco Santander and key subsidiaries’ credit ratings
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Banco Santander ( (ES:SAN) ) has shared an announcement.
Fitch Ratings has upgraded Banco Santander’s long-term credit rating from A to A+, with a stable outlook, while affirming its short-term rating at F1. The move reflects an improved assessment of the bank’s credit profile and may support lower funding costs and enhanced market perception among investors and counterparties.
Subsidiaries including Banco Santander Totta, Santander Consumer Finance, Santander Consumer Bank AG and Santander Consumer Bank AS also saw their long-term ratings raised to A+ with stable outlooks, and short-term ratings kept at F1. Additionally, Santander Totta’s long and short-term deposit ratings were lifted to AA- and F1+ respectively, underscoring strengthened confidence in the subsidiary’s funding reliability and balance-sheet resilience.
More about Banco Santander
Banco Santander S.A. is a global banking group headquartered in Spain, operating across retail, commercial and consumer finance segments. The bank provides a broad range of financial services to individuals and companies, with a strong presence in Europe and Latin America through subsidiaries such as Banco Santander Totta and various Santander Consumer Finance units.
See more insights into SAN stock on TipRanks’ Stock Analysis page.
