Santander UK downgraded

The credit ratings agency Moody's has downgraded 16 Spanish banks including Santander UK. It is the first British high street bank to be downgraded this year since the Euro crisis. The firm insists this has no impact on its UK business.

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Santander UK: 'Moody’s credit rating has no impact on our businesses in Britain'

The change to Moody’s credit rating of Santander UK plc has no impact on our businesses in the UK or our plans for future growth. Santander UK plc is an autonomous subsidiary of the Santander Group, with more than c. 90 percent of its total assets held in the UK and a Eurozone sovereign exposure of less than 1% of assets. Santander UK plc is regulated in the UK by the Financial Services Authority (‘FSA’) and relevant deposits are protected by the Financial Services Compensation Scheme (‘FSCS’).

– Santander UK

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