Moody's widens Santander review

Moody's Investors Service said it widened the scope of the existing review for downgrade on Banco Santander's Aa3 long-term ratings to include the Prime-1 short-term ratings.

Moody's said the review of Santander's short-term rating is driven by the agency's review of whether Spanish banks with standalone credit assessments at (or below) the government's rating can continue to benefit from systemic support that lifts a bank's rating above that of the Spanish government.

This review reflects the rating agency's concern that in a systemic crisis, the Spanish government's capacity and willingness to support its banking system may have diminished, the agency said.

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