Banco Santander Santiago announced that Moody’s Investor Services reaffirmed the bank’s credit risk ratings, which have held static since the last evaluation.
The ratings are as follows, with Bank Financial Strength, B-; Long-term Bank Deposits, Baa1; Senior bonds, A2; Subordinated Debt, A3; Short-term, P-2.
The Bank Financial Strength Rating (BFSR) is the highest Moody’s assigns to any Latin American Bank. The A2 Senior and A3 Subordinated Foreign Currency Debt ratings pierce Chile’s country ceiling. The Bank’s long-term deposit rating, Baa1, is capped by the sovereign ceiling.
As highlighted by Moody’s, the Bank “continues to leverage its franchise, management, and pricing power by increasing its penetration of the individual and commercial customer segments and enhancing its market presence as a multi- product financial institution. The Bank is in a position to leverage Santander Central Hispano’s commitment to Chile and to Latin America, with its extensive network of regional banks and management talent.”