Banco SantanderChile News

May 4 - Standard & Poor's Ratings Services said today it assigned its 'A-1' short-term issue rating to Banco Santander-Chile S.A.'s up to $5 billion commercial paper program to be issued in the U.S. "The rating on the CP program reflects its pari passu ranking to the bank's other senior unsecured debt obligations, and as such it is the same as the ... (more)

Overview -- On April 30, 2012, we downgraded Spain-based Banco Santander to 'A-' from 'A+'. -- We are affirming the 'A/A-1' issuer credit ratings on its subsidiary, Chile-based Banco Santander-Chile. -- The ratings on Santander-Chile now reflect our view of a moderately high likelihood of government support, which is now higher than parent support.

The effects of the European sovereign debt crisis have pushed the European banking industry into crisis with investors fleeing the sector in droves fearful of sovereign debt defaults and high risk loan portfolios.

Latin America has escaped many of the effects of the financial crises that have shaken the world's modern economies to the core.

Its activities include the investment in all types of goods, shares, bonds and debentures, as well as the administration of its investments.