Santander UK PLC Global Covered Bond Program Ratings Affirmed At 'AAA'; Outlook Stable

Following the publication of our revised counterparty risk criteria, we placed our ratings on Santander UK's Global covered bond program under criteria observation. After our review, we have affirmed our 'AAA' ratings on the covered bond program and related issuances. The outlook is stable. LONDON (S&P Global Ratings) Sept. 6, 2019--S&P Global Ratings today affirmed its 'AAA' credit ratings on Santander UK PLC's Global Covered Bond Program. The outlook is stable. On March 8, 2019, we published our criteria for analyzing counterparty risk in structured finance transactions (see "Counterparty Risk Framework: Methodology And Assumptions," published on March 8, 2019), and placed under criteria observation the ratings on the programs that could potentially be affected (see "Ratings Placed Under Criteria Observation

...- Following the publication of our revised counterparty risk criteria, we placed our ratings on Santander UK's Global covered bond program under criteria observation. - After our review, we have affirmed our '###' ratings on the covered bond program and related issuances. The outlook is stable. LONDON (S&P Global Ratings) Sept. 6, 2019--S&P Global Ratings today affirmed its '###' credit ratings on Santander UK PLC's Global Covered Bond Program. The outlook is stable. On March 8, 2019, we published our criteria for analyzing counterparty risk in structured finance transactions (see "Counterparty Risk Framework: Methodology And Assumptions," published on March 8, 2019), and placed under criteria observation the ratings on the programs that could potentially be affected (see "Ratings Placed Under Criteria Observation Due To Revised Counterparty Risk Criteria," published on March 8, 2019). These ratings are no longer under criteria observation. The covered bond program includes an asset swap...

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