Moody's: Banco Santander Totta negative

Moody's Investors Service said it confirmed the Ba1 long-term debt and deposit ratings of Banco Santander Totta SA, the senior subordinated debt of provisional Ba2 and its junior subordinated debt of provisional Ba3 and assigned a negative outlook.

Banco Santander Totta's bank financial strength rating of D-/Ba3 and its short-term debt and deposit ratings of Not-Prime remain unchanged.

In addition, the provisional Ba1 senior unsecured medium-term notes, provisional Ba2 subordinate medium-term notes and provisional Ba3 junior subordinate medium-term notes ratings of Banco Santander Totta SA, London have been confirmed at their current levels.

Moody's said the announcement follows the confirmation of the parent bank's ratings at Baa2/Prime-2/C-, with a negative outlook, which in turn was prompted by the confirmation of the Spanish government's ratings with a negative outlook.

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