Credit Rating Report

Santander Totta S.A. Covered Bonds (Obrigações Cobertas - Mortgages): Surveillance Report

Covered Bonds

Summary

On 12 July 2023, DBRS Ratings GmbH (DBRS Morningstar) confirmed its AA ratings on the Obrigações Cobertas (formerly designated Obrigações Hipotecárias; the Portuguese legislative covered bonds) outstanding under the Banco Santander Totta S.A. EUR 12.5 billion Obrigações Cobertas programme.

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