Fitch have reaffirmed Banco Santander Central Hispano current rating (long term as 'AA-' but placed the bank on Outlook negative from developing outlook. Fitch place BSCH on 'developing' after its expensive acquisition of Banespa last year. The key paragraph of their release read in part:
``. .(the bank has) a relatively weak capital base just when it has increased exposure to emerging markets, making it more vulnerable to a shift in economic condition ’’
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