Fitch revises Santander UK to stable

Fitch Ratings said it revised the outlook on Santander UK Group Holdings plc’s (SGH; the holdco), Santander UK plc's (the main operating bank) and Abbey National Treasury Services plc's long-term issuer default ratings to stable from positive and affirmed the ratings at A.

The short-term issuer default ratings were affirmed at F1.

Fitch said the outlook revisions reflect its view that the weaker prospects for the banking sector after the UK's decision to leave the European Union will make it more difficult for SGH's earnings to benefit from a diversified business mix.

The agency expects the UK banking sector profitability to be affected by low interest rates which, coupled with a slowdown in domestic lending demand, will put pressure on earnings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.