DBRS Upgrades LT Ratings of Santander Totta to A (low), Stb trend following Santander Confirm at “A”
DBRS, Inc. (DBRS) has upgraded the long-term ratings of Banco Santander Totta S.A. (Totta or the Bank) following the confirmation of its parent, Banco Santander S.A. (Santander or the Parent). DBRS has upgraded Totta’s Long-Term Issuer Rating to A (low) from BBB (high), while its Short-Term Issuer Rating was confirmed at R-1 (low). The long-term ratings are now positioned one-notch below those of Santander. The trend on all ratings remains Stable, in line with the rating of the Parent. Totta’s support assessment remains SA1.
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