In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

Following Santander’s Investor day on April 3rd, Scope Ratings has affirmed its long- and short-term ratings on Banco Santander SA. At the same time, it has assigned a BBB- rating to Santander’s USD1.2bn 7.5% AT1 notes issued in February 2019.

Scope Ratings has updated its rating report on Banco Santander’s AT1 securities.

Scope Ratings has updated its rating report on Banco Santander’s AT1 securities.

The acquisition of the troubled Spanish bank should not change Santander’s group risk profile; Scope highlights the importance of the announced rights issue to neutralise capital impacts.