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

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: