GFU Earns Ratings Upgrade

Panama-headquartered Grupo Financiero Uno and its subsidiaries (GFU), the region’s largest credit card issuer, has earned ratings upgrades from Fitch Ratings following the group’s acquisition by Citi. Banco Uno in El Salvador has had its long-term national rating raised from A to AAA, while its short-term rating has been raised from F2 to F1+. Meanwhile, in Nicaragua, Banco Uno’s national rating is raised from A- to AA+ (long-term) and from F2 to F1+ (short-term).