Fitch rates Santander Consumer notes A-

Fitch Ratings said it assigned an A- long-term rating to Santander Consumer Finance, SA's senior non-preferred notes to be issued under the bank's €15 billion euro medium-term note program.

The introduction of this new debt class does not affect the A- long-term rating on the bank's outstanding senior debt.

The senior non-preferred notes to be issued under the program are rated in line with Santander Consumer Finance’s long-term issuer default rating (A-) and existing senior debt ratings. Fitch said it views the probability of default on the senior non-preferred notes as the same as the probability of default of the bank.

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