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Saturday 12 June 2021
HomeNewsFitch revises 4 Tunisian leasing companies' subordinated debts

Fitch revises 4 Tunisian leasing companies’ subordinated debts

Fitch Ratings has revised “Tunisie Leasing”, “Arab Tunisian Lease,” “Compagnie Internationale de Leasing” and “Attijari Leasing’s subordinated debt issues’ National Long-term ratings.

Fitch said the review is part of a broad review of Fitch-rated subordinated debts. All the four Tunisian leasing companies’ rated subordinated debt issues are Lower Tier 2 issues.

Tunisie Leasing, Arab Tunisian Lease, Compagnie Internationale de Leasing and Attijari Leasing have National Long-term ratings at BBB+ (tun), BBB(tun), BBB-(tun) and BB+(tun), respectively.

“Lower Tier 2 debt issued by these leasing companies are rated three notches below their respective National Long-term rating, given weak recovery prospects an investor could expect on investments in these subordinated debts in the event of default,” Fitch said.

“Lower Tier 2 debt issued by these leasing companies are rated three notches below their respective National Long-term rating, given weak recovery prospects an investor could expect on investments in these subordinated debts in the event of default,” Fitch said.

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