Fitch lifts Banco Santander (SAN) and key subsidiaries to A+ with stable outlook
Rhea-AI Filing Summary
Banco Santander, S.A. reports that Fitch Ratings has upgraded its long-term rating from A to A+, with a stable outlook, while affirming its short-term rating at F1. The long-term ratings of key subsidiaries, including Santander Totta and several Santander Consumer entities, were also raised from A to A+ with stable outlooks and F1 short-term ratings affirmed. In addition, Santander Totta’s long-term deposit rating was upgraded from A+ to AA-, and its short-term deposit rating from F1 to F1+, signalling stronger assessed credit quality for that subsidiary.
Positive
- Fitch Ratings upgraded Banco Santander’s long-term rating from A to A+ with a stable outlook, indicating improved assessed credit strength.
- Santander Totta’s long-term deposit rating was raised from A+ to AA-, and its short-term deposit rating from F1 to F1+, enhancing its standing as a deposittaker.
Negative
- None.
Insights
Fitch’s upgrades improve Santander’s assessed credit quality and funding profile.
Fitch Ratings raised Banco Santander’s long-term rating from A to A+ with a stable outlook and affirmed its F1 short-term rating. Several core subsidiaries received the same long-term upgrade, reinforcing the group’s consolidated credit profile.
Santander Totta’s long-term deposit rating moved from A+ to AA-, and its short-term deposit rating from F1 to F1+. Higher deposit ratings can support access to wholesale and retail funding on more attractive terms, though actual pricing effects depend on market conditions and investor demand.
The stable outlook indicates Fitch does not, at this time, anticipate near-term rating changes based on its current view. Future rating actions will depend on how Santander’s financial performance, asset quality and capital evolve relative to Fitch’s criteria.
Key Figures
Key Terms
long-term rating financial
short-term rating financial
Outlook is stable financial
deposit rating financial
F1 financial
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of May, 2026
Commission File Number: 001-12518
Banco Santander, S.A.
(Exact name of registrant as specified in its charter)
Ciudad Grupo Santander
28660 Boadilla del Monte (Madrid) Spain
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
| Form 20-F | X |
Form 40-F |
Banco Santander, S.A.
TABLE OF CONTENTS
Item |
|
| 1 | Report of Other Relevant Information dated May 13, 2026 |
Item 1
Banco Santander, S.A. (“Santander” or the “Bank”), in compliance with the Securities Market legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
As part of Fitch Ratings (“Fitch”) methodology review, action has been taken on Santander’s long-term rating, upgrading it from A to A+. Outlook is stable. Short-term rating is affirmed at F1.
The long-term rating of Santander subsidiaries, Banco Santander Totta, S.A. (“Santander Totta”), Santander Consumer Finance, S.A., Santander Consumer Bank AG and Santander Consumer Bank AS has also been upgraded from A to A+. Outlook is stable. Short-term rating is affirmed at F1.
Santander Totta’s long and short-term deposits ratings have been upgraded from A+ to AA-, and from F1 to F1+.
Boadilla del Monte (Madrid),13 May 2026
IMPORTANT INFORMATION
Not a securities offer
This document and the information it contains does not constitute an offer to sell nor the solicitation of an offer to buy any securities.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Banco Santander, S.A. | |||||
| Date: | May 13, 2026 | By: | /s/ Pedro de Mingo Kaminouchi | ||
| Name: | Pedro de Mingo Kaminouchi | ||||
| Title: | Head of Corporate Compliance | ||||