DBRS gives Santander Totta notes AA

DBRS gave an AA rating to Banco Santander Totta SA’s €11.9 million of series 34 Portuguese legislative-covered bonds. The bonds were sold under the bank’s €12.5 billion covered bond program.

Series 34 is a fixed-rate bond that pays a coupon of 3.111% and matures on Feb. 5, 2029.

The agency currently rates all bonds sold under the program AA.

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