The principles of causality and unitarity are studied within rational nonlinear electrodynamics proposed earlier. We investigate dyonic and magnetized black holes and show that in the self-dual case, when the electric charge equals the magnetic charge, corrections to Coulomb's law and Reissner-Nordstrom solutions are absent. In the case of the magnetic black hole, the Hawking temperature, the heat capacity and the Helmholtz free energy are calculated. It is shown that there are second-order phase transitions and it was demonstrated that at some range of parameters the black holes are stable.