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S&P lifts Banco Santander view to positive
S&P said it revised the outlook on the long-term rating on Banco Santander SA to positive from stable.
The agency also said it affirmed the bank’s A- long-term and A-2 short-term counterparty credit ratings.
The agency also said it affirmed the BBB+ long-term and A-2 short-term counterparty credit ratings on Santander Consumer Finance SA, a highly strategically important subsidiary of Banco Santander.
The outlook remains stable.
Based on revised funding plans announced by the bank, S&P said it thinks it is possible for Santander to build up a large cushion of ALAC (additional loss absorbing capacity) instruments that would be available to absorb losses and recapitalize the bank.
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