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Article: Fitch reiterates AA on Santander Totta long-term IDR.
- Article from:
- ADP Debt News
- Article date:
- September 18, 2009
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(ADPnews) - Sep 18, 2009 - Fitch reiterated yesterday its AA rating on the long-term issuer default rating (IDR) of Portuguese bank Santander Totta with a "stable" outlook.
The short-term IDR remained at F1+, the individual rating was affirmed at B and the support rating was kept at 1.
Two days before, Moody's also affirmed its Aa3 long-term IDR for the bank.
The ratings of Santander Totta are "driven by an extremely high probability of support" by Spanish parent Santander (MCE:SAN), Fitch said. The parent group considers "activities in Portugal are of strategic importance ...