S&P rates Santander notes BBB-

Standard & Poor's said it assigned a BBB- senior unsecured debt rating to Banco Santander (Brasil) SA's forthcoming senior unsecured notes due 2015.

The rating is the same as its long-term counterparty credit rating, reflecting a view that the notes will rank on par with other senior unsecured debt and that they will be direct obligations of the bank.

The proceeds will be used for general banking purposes.

The ratings reflect the bank's relevant position in the competitive Brazilian banking industry, well-diversified business lines and strategic importance to its parent, Banco Santander SA, S&P said.

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