Moody's affirms Banco Santander

Moody's Investors Service said it affirmed the bank financial strength rating of C assigned to Banco Santander SA (Brazil).

The rating agency also affirmed Santander's global long- and short-term local currency deposit ratings at A2/ BR-1, respectively, as well as the Brazilian national-scale deposit ratings of Aaa.br/BR-1, the agency said.

The outlook is stable.

According to Moody's, Santander's foreign currency deposit ratings of Ba2 and the junior subordinated debt ratings of Baa3 assigned to the perpetual bonds issued by Banco Santander - Grand Cayman Branch, both constrained by the foreign currency deposit ceilings, remain under review for possible upgrade in connection with the review of Brazil's foreign currency deposit and debt ceilings.

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