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S&P Credit Research8722 word report
published Apr 07, 2009
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S&P Credit Research
| Abstract: | Well-diversified geographic and business profiles Solid positions in core markets Strong management capabilities and clear strategic focus Sound operating profitability Tight credit risk management Deteriorating asset quality in most business units High economic risk arising from Latin American investments High credit risk in the Spanish real estate market Acquisition-driven stance carrying inherent execution risk The ratings on Spain-based Banco Santander S.A. reflect our view of its sharp strategic focus and strong management capabilities, well-diversified geographic spread and business profile, solid presence in core markets, and sound operating profitability. Standard&Poor's Ratings Services also factors into the ratings our view on the bank's deteriorating asset quality, its economic risk linked to Latin America operations, and inherent execution risks stemming from
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| Brief Excerpt: | RESEARCH Ratings Definitions Banco Santander S.A. Publication date: 07-Apr-2009 Primary Credit Analyst: Elena Iparraguirre, Madrid (34) 91-389-6963; elena_iparraguirre@standardandpoors.com Secondary Credit Analyst: Jesus Martinez,...
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| Report Type: | Full Report
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| Ticker: | SAN@SM
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| Issuer: | Banco Santander S.A.
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| GICS: | Diversified Banks (40101010)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | Spain
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Ratings On Two Banco Santander S.A.-Related Bonds Lowered To 'AA/A-1+' $100.00
NEW YORK (Standard&Poor's) Oct. 9, 2009--Standard&Poor's Ratings Services today lowered its ratings on two bond issues related to Banco Santander S.A. to 'AA/A-1+' from 'AAA/A-1+' (see list). The 'AA' long-term components of our ratings on ...
- Summary: Banco Santander S.A. $175.00
The ratings on Spain-based Banco Santander S.A. reflect our view of its sharp strategic focus and strong management capabilities, well-diversified geographic spread and business profile, solid presence in core markets, and sound operating profitability. ...
- Spanish Bank Santander And Subsidiaries Outlooks Revised To Negative; 'AA/A-1+' Ratings Affirmed $100.00
MADRID (Standard&Poor's) March 4, 2009--Standard&Poor's Ratings Services today said it has revised its outlook on Spain-based Banco Santander, S.A. (Santander) to negative from stable. Standard&Poor's also revised the outlooks to negative from ...
- Research Update: Spanish Bank Santander And Subsidiaries Outlooks Revised To Negative; 'AA/A-1+' Ratings Affirmed $175.00
On March 4, 2009, Standard&Poor's Ratings Services revised its outlook on Spain-based Banco Santander, S.A. (Santander) to negative from stable. Standard&Poor's also revised the outlooks to negative from stable on certain rated subsidiaries ...
- Bulletin: S&P Comments On Its Ratings On Spanish Banks After The Downgrade Of The Kingdom of Spain $100.00
MADRID (Standard&Poor's) Jan. 19, 2009--Standard&Poor's Ratings Services said today that its ratings and outlooks on Spanish financial institutions (see list below) already factor in the increasingly challenging economic environment taken into ...
- Bulletin: Spain-Based Banco Santander Ratings And Outlook Unchanged By Rights Issue $100.00
MADRID (Standard&Poor's) Nov. 11, 2008--Standard&Poor's Ratings Services said today that its ratings and outlook on Spain-based Banco Santander S.A. (AA/Stable/A-1+) remain unchanged following the announcement by the bank of a €7.2billion rights ...
- Bulletin: Spain-Based Banco Santander Ratings And Outlook Unchanged On Acquisition Of Sovereign Bancorp $100.00
MADRID (Standard&Poor's) Oct. 14, 2008--Standard&Poor's Ratings Services said today that its ratings and outlook on Spain-based Banco Santander S.A. (AA/Stable/A-1+) remain unchanged following the agreement reached for the bank's acquisition ...
- Bulletin: Banco Santander S.A. Ratings And Outlook Unchanged On News Of Bid For Alliance&Leicester $100.00
MADRID (Standard&Poor's) July 14, 2008--Standard&Poor's Ratings Services said today that its ratings and outlook on Spain-based Banco Santander S.A. and U.K. subsidiary Abbey National PLC (both rated AA/Stable/A-1+) remain unchanged following ...
