Fitch takes Unicaja from watch

Fitch Ratings said it affirmed Unicaja Banco, SA’s ratings, including the long-term issuer default rating of BBB- and removed them from rating watch negative.

The affirmation reflects the view that Unicaja’s ratings are not immediately at risk from the effect of the economic fallout from the pandemic, supported by its currently available capital buffers, which provide it with headroom to absorb a likely cut in profitability and higher credit risks, Fitch said.

The outlook is negative.

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