DBRS Assigns Rating to Debt Issued by Bankinter Subsidiary

DBRS Inc. (DBRS) has today assigned a rating of R-1 (low) with a Stable trend to the Guaranteed Short-Term Instruments issued by Bankinter Sociedad de Financiación S.A. under the EUR 3.5 billion, extendable to EUR 5 billion, Commercial Paper Programme (CP Programme) of Bankinter and Bankinter Sociedad de Financiación. These guaranteed notes issued by Bankinter Sociedad de Financiación under the CP Programme are unconditionally and irrevocably guaranteed by Bankinter. Accordingly, the ratings on these notes are equal to that of Bankinter’s Short-Term Debt & Deposit rating. These ratings apply only to the Notes issued by Bankinter Sociedad de Financiación under this CP Programme and are subject to the maintenance of Bankinter’s Short-Term Debt & Deposit rating of R-1 (low).

Notes:
All figures are in EUR unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations (June 2014). Other methodologies used include the DBRS Criteria: Support Assessment for Banks and Banking Organisations (January 2014) and DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (December 2013). These can be found can be found at: http://www.dbrs.com/about/methodologies

The primary sources of information used for this rating include company documents, SNL Financial and the Bank of Spain. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: Lisa Kwasnowski
Rating Committee Chair: Alan G. Reid
Initial Rating Date: November 15, 2012
Most Recent Rating Update: September 18, 2014

For additional information on this rating, please refer to the linking document under Related Research.