Moody's: No rating impact on notes issued by TDA Ibercaja 3 following swap amendments

Madrid, June 04, 2013 -- Moody's has announced today that the proposed action of Banco Santander (the swap counterparty) to amend the collateral trigger under the swap agreement and put in place a credit support annex ("Anexo III") would not, in and of itself and as of this time result in the downgrade or withdrawal of the current ratings of the notes (the "Notes") issued by TDA Ibercaja 3 (the "Issuer"). Banco Santander (Baa2/P-2) has replaced Banesto as swap counterparty following its absorption by Banco Santander. Moody's opinion addresses only the credit impact associated with the proposed amendment, and Moody's is not expressing any opinion as to whether the amendment has, or could have, other non-credit related effects that may have a detrimental impact on the interests of note holders and/or counterparties.

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