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Fitch assigns ratings to Banco Santander's Norwegian unit


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Fitch assigns ratings to Banco Santander's Norwegian unit

Fitch Ratings on May 9 assigned A-/F2 long- and short-termissuer default ratings to Lysaker, Norway-based . Theoutlook on the long-term rating is stable.

Fitch also assigned a "bbb+" viability rating anda support rating of 1 to the bank.

Santander Consumer Bank's ratings are based on institutionalsupport and equalized with those of its direct parent company , and ultimateparent company Banco SantanderSA, based in Madrid. Fitch expects Banco Santander to providesupport directly through Santander Consumer Finance, if needed.

Santander Consumer Bank's viability rating reflects thebank's "clear" and "consistent" strategy,"moderate" risk appetite in the auto and consumer finance market, and"resilient" financial performance.