OREANDA-NEWS. Fitch Ratings says that Abbey National Treasury Services plc's (ANTS) USD30bn EMTN programme's Long-term 'A' and Short-term 'F1' ratings are unaffected by today's announcement of the substitution of the issuer to Santander UK (A/F1). The programme is unconditionally and irrevocably guaranteed by Santander UK. The ratings are programme ratings and do not necessarily apply to all the notes issued under it. The ratings of the outstanding notes issued under the programme are also unaffected.

The 'A' Long-term senior debt ratings of two standalone issues are also unaffected: GBP166,950 zero coupon notes due 2038 (ISIN XS0098255176) and a EUR60m Step-down fixed/inverse floating rate notes due 2019 (ISIN XS0094744710), which were both issued by ANTS and are unconditionally and irrevocably guaranteed by Santander UK. These notes' ratings are driven by Santander UK's Long-term IDR.

The issuer substitution took place on 26 April 2016 and will become effective on 1 June 2016. Fitch last affirmed the ratings of the notes on 15 July 2015.