The rating reflects the group’s diversified business model, strong liquidity and sustainability management focus. Buffers to prudential requirements are adequate.

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.

The new report details the key drivers of Santander’s issuer rating, which was recently affirmed at AA-, Stable Outlook.

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.

The Additional Tier 1 market reaches a landmark in 2018 as the earliest issues hit their first call dates. The investor base has grown, and terms and structures have standardised. But what lessons should be learned from developments in this market?

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

Scope Ratings has updated its rating report on Banco Santander SA, rated AA- with Stable Outlook.

Rating upgrade reflects Scope’s view of these banks’ reassuring liquidity dynamics, positively impacted by European supervisors’ enhanced focus on bank liquidity and funding.

Rating upgrades address new seniority ranking in resolution following the passage of Decree Law 11/2017 and are in line with Scope’s bank rating methodology.

The handbook includes an assessment of how risks in the AT1 market are evolving. Recent developments concerning Banco Popular and Bremer Landesbank demonstrate the importance of issuer fundamentals when evaluating the likelihood of incurring losses.