S&P affirms Banco Santander (Brasil)

Standard & Poor’s said it affirmed its BB+/B global scale and brAA+/brA-1 national scale issuer credit ratings on Banco Santander (Brasil) SA. The outlook on the global and national scale ratings is negative.

At the same time, the bank’s stand-alone credit profile (SACP) of bbb remains unchanged.

“The issuer credit ratings on Santander reflect our assessments of its ‘strong’ business position, ‘adequate’ capital and earnings and ‘adequate’ risk position, as well as our view of its ‘average’ funding and ‘adequate’ liquidity,” said S&P credit analyst Edgard Dias in a news release.

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