Fitch upgrades GFH to B

Fitch Ratings said it upgraded GFH Financial Group BSC's long-term issuer default rating to B from B- and affirmed its short-term issuer default rating at B.

The outlook is positive.

Fitch said the upgrade principally reflects GFH's improved financial position following the settlement of a number of pieces of litigation in connection with previous investment transactions and dealings, strengthening the institution's capital position and reducing associated legacy uncertainties.

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