Moody’s placed on review for possible downgrade Santander UK, which it rates A1.

This rating action yesterday (Tuesday) is because the rating agency last Wednesday (15 February) put on review for possible downgrade the UK issuer’s parent, Banco Santander, along with many other European banks.

Moody’s rates Santander Aa3.

“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 Moody’s does not expect Santander UK to be downgraded by more than one notch and therefore the short-term Prime-1 rating is not affected,” said the rating agency.