LONDON, March 6 - Fitch Ratings has upgraded Ukraine-based Bank Forum's ratings to Long-term foreign currency Issuer Default (IDR) 'BB-' (BB minus) from 'B-' (B minus) and Support '3' from '5', the ratings agency said in a statement on Thursday.

The ratings are removed from Rating Watch Positive. This follows the recent completion of the acquisition of a 60%+1 share in the bank by German bank, Commerzbank ('A'/Outlook Stable/'F1'), the statement says.