Fitch Ratings upgraded Banco Santander, S.A.'s long-term rating from A to A+ with stable outlook, affirming short-term F1 rating, and similarly upgraded several subsidiaries' ratings.
Key takeaways
Fitch upgraded Santander's long-term rating from A to A+; outlook stable.
Santander's short-term rating affirmed at F1.
Subsidiaries Banco Santander Totta, S.A., Santander Consumer Finance, S.A., Santander Consumer Bank AG, and Santander Consumer Bank AS upgraded from A to A+; outlook stable; short-term F1 affirmed.
Santander Totta's long-term deposits rating upgraded from A+ to AA-; short-term from F1 to F1+.