LONDON (Standard & Poor's) Nov. 28, 2008Standard & Poor's Ratings Services today assigned its 'A-1' credit rating to the up to €6 billion Spanish ABCP (Pagarés) program established by Fondo de Titulización de Activos Santander 2. The program will issue Spanish CP notes ("pagarés"), with a nominal amount of €100,000. The pagarés are issued at discount and have a maturity between 30 and 364 days. The sponsor of this program is Banco Santander S.A. (Banco Santander). It has an extensive commercial portfolio that includes rights that originate from discount operations offered by Banco Santander to its clients, and from operations relating to the granting of credit, loans, and other asset operations. This vehicle issues European Central Bank (ECB) eligible CP....
Companies mentioned in this report are:
- Fondo de Titulizacion de Activos Santander 2
- Banco Santander S.A.
Action: New Rating
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