Moody's rates Banco Santander program Aa3

Moody's Investors Service said it assigned a A2 long-term local currency debt rating and a Prime-1 short-term local currency debt rating to Banco (Mexico) Santander, S.A Institución de Banca Múltiple, Grupo Financiero Santander's five-year Ps. $20 billion senior debt program of certificados bursátiles bancarios.

Moody's also assigned an Aaa.mx long-term Mexican national scale debt rating and a MX-1 short-term Mexican national scale debt rating to the program.

The outlook is stable.

The assigned ratings are in line with Santander México's local currency deposit rating of A2, which is based on the bank's unsupported baseline credit assessment of A3 and the incorporation of parental support from Banco Santander, SA in Spain, Moody's said.

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