Fitch affirms Banco Santander Rio

Fitch Ratings said it affirmed Banco Santander Rio's individual rating at D and support rating at 5. Santander Rio's long- and short-term national ratings of AA(arg) and A1+(arg) were affirmed on Dec. 14.

The outlook is stable.

According to the agency, ratings reflect the bank's good franchise in Argentina, its improved profitability and sound asset quality.

Ratings also consider ownership by Spain's Banco Santander (AA rating), as well as the fact that the operating environment in Argentina has improved considerably but remains potentially volatile, Fitch said.

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