Fitch affirms Santander Rio

Fitch Ratings said it affirmed Banco Santander Rio SA's long-term national rating at AA(arg), short-term national ratings at A1+(arg), and $1 billion and $500 million debt issuance programs at AA(arg).

The outlook is stable.

The ratings reflect Santander Rio's good franchise in Argentina, improved profitability and its sound asset quality, Fitch said.

The ratings also consider ownership by Spain's Banco Santander, which has AA ratings, as well as the volatile environment in Argentina, the agency said.

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