S&P affirms Banco Santander (Brasil)

S&P said it affirmed the BB/B global scale and brAA-/brA-1+ national scale issuer credit ratings on Banco Santander (Brasil) SA.

The outlook is negative.

At the same time, the agency also affirmed the bank's stand-alone credit profile at bbb-.

S&P said the ratings are supported by its core status to its parent company Banco Santander SA (A-/stable/A-2), and its solid market share that's reflected in sound business stability, despite Brazil's weak economy.

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