Fitch affirms Santander units

Fitch Ratings said it affirmed the long-term issuer default ratings of Santander Holdings USA, Inc., Santander Bank, NA and Banco Santander Puerto Rico.

The outlook is stable.

The agency said the ratings reflect the likelihood of support from parent Banco Santander, SA (A-/stable).

Santander Holdings’ issuer default rating is rated one notch below its parent, reflecting its size relative to the parent's ability to provide support, its strategic importance to the group, as well as the parent's track record of providing ordinary support, the agency said.

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