Moody's places Santander UK on review for possible downgrade

LONDON (ShareCast) - Moody's announced last night that it was placing on review for a possible downgrade Santander UK's long-term bank deposit and senior debt ratings. The ratings agency will also review its subordinated debt rating of "A3", the junior subordinated rating of "Baa1", and the "Baa1/Baa2" preferred share rating. Moody's explained that the review of Banco Santander (Amsterdam: SANT.AS - news) 's UK affiliate is "driven by the review and outcome for the ratings of its parent." "As the review of Banco Santander SA is not expected to result in a downgrade of more than two notches of its long-term rating (currently Aa3 (SNP: ^AA3Y - news) ) Moody's does not expect Santander UK to be downgraded by more than one notch," announced Moody's. S.C.