Moody's puts Santander's UK arm on downgrade watch

Credit rating agency Moody's has placed Santander UK's long term debt and deposit ratings under review following the announcement last week that its parent may be downgraded.

Moody's said it has placed Santander UK's A1 long term bank deposit and senior debt ratings, as well as the bank's A3 subordinated debt rating, under review, although it does not expect a downgrade of more than one notch. It comes after Banco Santander's standalone bank financial strength rating (BFSR), and its long term debt rating, were placed under review for possible downgrade along with many other European banks. "As the review of Banco Santander is not expected to result in a downgrade of more than two notches of its long-term rating (currently Aa3), Moody's does not expect San...