Bulletin: Banco Santander (Brasil) And (Mexico) Subsidiary Ratings Unaffected By Downgrade Of Spanish Parent Banco Santander Feb 12
Standard & Poors, February 2012
Abstract
MEXICO CITY (Standard & Poor's) Feb. 13, 2012--Standard & Poor's Ratings Services said today that its ratings on Banco Santander (Brasil) S.A. and Banco Santander (Mexico) S.A. Institución de Banca Múltiple Grupo Financiero Santander (both BBB/Stable/A-3) are not affected by the recent downgrade of their Spain-based parent, Banco Santander S.A. (Santander; A+/Negative/A-1) (see "Research Update: Banco Santander S.A. And Core Subs Ratings Lowered To 'A+/A-1' On Spain Downgrade And BICRA Revision; Outlook Negative," published Feb. 13, 2012, on RatingsDirect). Our ratings on both banks are based on their stand-alone creditworthiness and are limited by the respective sovereign ratings on the Federative Republic of Brazil (foreign currency: BBB/Stable/A-3; local currency: A-/Stable/A-2) and the United Mexican States (foreign currency: BBB/Stable/A-3; local currency:...
Companies mentioned in this report are:
- Banco Santander (Brasil) S.A.
- Banco Santander S.A.
- Banco Santander (Mexico) S.A. Institucion de Banca Multiple Grupo Financiero Santander
Action: Bulletin
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.
- Banco Santander (Brasil) S.A.
- Banco Santander S.A.
- Banco Santander (Mexico) S.A. Institucion de Banca Multiple Grupo Financiero Santander
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