Santander International has had its credit rating increased to A+ from A by Fitch Ratings.
The AA rating of the firm, which has branches in Jersey and the Isle of Man, indicates a very low default risk and a capacity for payment that is not significantly vulnerable to foreseeable events and is one of the highest ratings for financial institutions.
“This is a really positive message that despite the decline in the global economic outlook due to the current coronavirus pandemic, Fitch Ratings have recognised the strong and improving financial dynamics of this growing and independent subsidiary," James Pountney, Managing Director of Santander Financial Services plc, said.
“Santander Financial Services plc boasts Tier 1 Equity (CET1) of 39.90%, almost three times the minimum requirement, which demonstrates that it is one of the most well capitalised financial institutions in its peer group and offers international clients a strong and secure home for their money.”
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