S&P: Banco Santander notes BBB

Standard & Poor's said it assigned its BBB long-term issue rating to Banco Santander (Mexico) SA Institucion de Banca Multiple Grupo Financiero Santander's up to $1 billion senior unsecured notes. The notes will have a maturity of up to 10 years.

"The rating on the bank's senior notes reflects its pari passu ranking to Banco Santander Mexico's other unsecured debt obligations and as such it is the same as the bank's long-term issuer credit rating," said S&P credit analyst Arturo Sanchez in a news release.

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