Santander rating

Santander, the first European bank that will not redeem its issue of CoCos

S&P raises Santander rating above Spain sovereign

After recently raising Spain’s sovereign ratings to ‘BBB+’ from ‘BBB’, S&P has also improved its stance on some of the country’s top banks. S&P’s upgrades comes in the same week as the Madrid local authorities said they could not renew the contracts with that agency.