Creditreform Rating has lowered the rating on Banco Santander Totta S.A. (Group) to A- from A. In addition, Creditreform Rating has revised its outlook from watch negative to negative. Moreover, Creditreform Rating has also lowered the rating of Additional Tier 1 Capital to BB from BB+, the rating of Tier 2 Capital to BB+ from BBB-, the rating of Non-Preferred Senior Unsecured Debt to BBB+ from A- and the rating of Preferred Senior Unsecured Debt to A- from A. For more details regarding the rating, we refer to our rating report on our homepage.
Creditreform Rating has set the rating of all valid bank ratings and bank issues to watch negative due to the currently not assessable impact of the Corona Crisis. Not affected by this rating action are government related banks. We refer to the free available Monitoring Report for a more detailed explanation.
Creditreform Rating has affirmed the rating of Banco Santander Totta S.A. at A. The outlook is stable. In addition, Creditreform Rating has affirmed the rating of Additional Tier 1 Capital at BB+ and the rating of Tier 2 Capital at BBB-. The rating of Preferred Senior Unsecured Debt (after reclassification from Senior Unsecured Debt) has affirmed at A. Moreover, the rating of Non-Preferred Senior Unsecured Debt was set to A-.
Creditreform Rating has set the rating of Banco Santander Totta S.A. to A, with stable outlook. Creditreform Rating has also determined the ratings of the debt classes as follows. The rating of Additional Tier 1 was set to BB+, the rating of Tier 2 to BBB- and the rating of the Senior Unsecured to A.