Debt Ratings Assigned to Banco Santander Central Hispano

Effective April 19, Banco Central Hispanoamericano, S.A. and Banco Santander S.A, are merging and forming a new bank called Banco Santander Central Hispano (BSCH). All previous obligations issued by the two banks will be fully guaranteed by the newly formed entity. Although Banco Central Hispanoamericano, S.A. and Banco Santander S.A no longer exist as legal banking entities, the new Banco Santander Central Hispano is keeping the three trade marks that were used by the merged banks, namely Banco Santander (BS), Banco Central Hispanoamericano (BCH) and Banesto. The three product brands will continue to be marketed separately, although with centralized activities and strong coordination. The merger clearly strengthens the retail banking business in Spain, increasing domestic market share and allowing further economies of scale

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