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On 03 October 2025, Moody's Investors Service raised Banco Santander, S.A.'s long-term deposit and senior debt ratings from A2 to A1 (stable) and its three covered bond programs from Aa1 to Aaa. This occurred after Moody's upgraded Spain's government bond rating from Baa1 to A3/Stable and its Macro Profile from Strong to Strong +, and Moody's affirmed Santander's baa1 Baseline Credit Assessment.
| Date | 3 Oct 2025 |
| Time | 14:58:28 |
| Category | Miscellaneous |
| ID | 0602C |
Banco Santander, S.A. ("Santander" or the "Bank"), in compliance with the Securities Market legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
The rating agency Moody's Investors Service ("Moody's"), following the upgrade of Spain's government bond rating from Baa1 to A3/Stable, and the Macro Profile for Spain from Strong to Strong +, which lifted the constraining factor for Santander rating, has raised the Bank's long-term deposit and senior debt ratings from A2 to A1 (stable), and the rating of the three covered bond programs (Public Sector, Mortgage and Export finance) to Aaa from Aa1.
Furthermore, Moody's affirms Santander's baa1 Baseline Credit Assessment (BCA) reflecting its assessment of the Bank's operating environment and broad diversification, combined with a strong track record of low earnings volatility and improved capital levels, as well as its diversified funding structure and ample liquidity buffers.
Boadilla del Monte (Madrid), 3 October 2025
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.