Moody's rates Banco Santander (Brasil) notes Baa1

Moody's Investors Service said it assigned a Baa1 foreign-currency debt rating to the 4.6% senior unsecured notes issued by Banco Santander (Brasil) SA, acting through its Grand Cayman Branch.

The notes are indexed to Chilean inflation rate and settled in U.S. dollars.

The outlook is positive, in line with the country ceiling for Brazil's bonds.

Moody's said that the rating derives from Santander Brasil's A2 supported global scale rating.

Despite the review status at global rating level, Santander Brasil's foreign currency senior unsecured bond rating is constrained by Brazil's Baa1 country ceiling, and thus carries the positive outlook of the ceiling, the agency said.

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