Fitch affirms Santander

Fitch Ratings said it affirmed the long-term issuer default ratings of Santander Holdings USA, Inc., Santander Bank, NA and Banco Santander Puerto Rico at BBB+.

The agency also affirmed the viability ratings of Santander Holdings and Santander Bank at bb+.

The outlook is stable.

Fitch said Santander Holdings’ issuer default rating reflects the likelihood of support from its parent, Banco Santander, SA (A-/stable).

The rating is one notch down from its parent, reflecting Santander Holdings’ strategic importance to the group, Banco Santander's full ownership stake and its track record of ordinary support, the agency said.

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