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Banco Santander (Brasil) S.A.'s Senior Unsecured Notes Due 2017 Assigned 'BBB' Rating Feb 12
Standard & Poors, Feb 2012
Abstract
SAO PAULO (Standard & Poor's) Feb. 6, 2012--Standard & Poor's Ratings Services has assigned its 'BBB' rating to Banco Santander (Brasil) S.A.'s (BBB/Stable/A-3) senior unsecured notes due February 2017. The rating on the notes is the same as the counterparty credit rating on Banco Santander Brasil. This reflects our view that the notes will rank on par with Banco Santander Brasil's other senior unsecured debt. It also reflects our assessment that the notes will be direct, unsecured, unsubordinated, and unconditional obligations of the bank. The bank plans to use the proceeds for general banking purposes. Our ratings on Banco Santander Brasil reflect its status as a core subsidiary of Banco Santander S.A. (AA-/Watch Neg/A-1+), as well as its 'strong' business...
Companies mentioned in this report are: Banco Santander (Brasil) S.A.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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