Fitch upgrades Unicaja Long-Term Rating to 'BBB' from 'BBB-'; with Outlook Stable

The upgrade mainly reflects structural improvements in Unicaja's profitability, asset quality and capitalisation

28 FEB 2025

1 Min reading

Fitch Ratings has upgraded Unicaja's Long-Term Issuer Default Rating (IDR) to 'BBB' from 'BBB-', outlook stable; and its Viability Rating (VR) to 'bbb' from 'bbb-'.

 

Fitch's has also upgraded Unicaja's Short-Term IDR to 'F2' from 'F3'.

 

According to the rating company, the upgrade mainly reflects structural improvements in Unicaja's profitability, asset quality and capitalisation, observing as key rating drivers: Unicaja’s strengthened financial profile, good regional franchise, retail-focused, moderate risk profile, strength of its deposit franchise and liquidity position.

 

The full list of rating actions is detailed below:

 

Ratings

Current

Prior

Long-term IDR

BBB

BBB-

Senior preferred debt

BBB

BBB-

Senior non-preferred debt

BBB-

BB+

Subordinated debt (Tier 2)

BB+

BB

Additional Tier 1 (AT1)

BB-

B+

 

  • Institucional

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