Santander Bank, N.A. -- Moody's affirms ratings of Santander Holdings USA (senior Baa2), outlook remains negative

New York, April 08, 2014 -- Moody's Investors Service affirmed all the ratings of Santander Holdings USA, Inc. (SHUSA) and its subsidiaries, including the lead bank, Santander Bank, N.A. (formerly Sovereign Bank, N.A.). Santander Bank has long- and short-term bank deposit ratings of Baa1 and Prime-2, respectively, and a standalone bank financial strength rating of C-, which is equivalent to a baa1 baseline credit assessment. Santander Bank's baseline credit assessment remained unchanged. SHUSA has a senior unsecured debt rating of Baa2, which benefits from one notch of uplift from our expectation of support from SHUSA's ultimate parent, Banco Santander S.A. (senior unsecured debt rating of Baa1 stable, standalone bank financial strength rating/baseline credit assessment of C-/baa1). Moody's also affirmed Santander Bank's stable outlook and SHUSA's negative outlook.

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