DBRS Discontinues the Rating on FTA Santander Financiacion 5, Series B and C

DBRS Ratings Limited (DBRS) has discontinued the rating on Series B and Series C Notes issued by FTA Santander Financiacion 5 due to repayment of the notes on 18 September 2014. Series and Series C Notes were previously rated ‘BBB’ (sf) and ’C’ (sf); and they are now Discontinued - Repaid.

Notes:
All figures are in Euros unless otherwise noted.

The principal methodology applicable is the Master European Structured Finance Surveillance Methodology

This can be found on www.dbrs.com at:
http://www.dbrs.com/about/methodologies

The sources of information used for this rating include reports provided by Santander de Titulization, S.G.F.T. S.A.

DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

The last rating action on this transaction took place on 30 June 2014, when DBRS discontinued the rating of Series A.

Information regarding DBRS ratings, including definitions, policies and methodologies are available on www.dbrs.com.

For further information on DBRS historic default rates published by the European Securities and Markets Administration (“ESMA”) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Initial Lead Analyst: Gareth Levington
Initial Rating Date: 29 June 2011
Initial Rating Committee Chair: Claire Mezzanotte

Lead Surveillance Analyst: Dylan Cissou
Rating Committee Chair: Charles Weilamann

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