Capital Intelligence (CI) on Thursday announced that it has affirmed the ratings of Banque Internationale Arabe de Tunisie (BIAT), based in Tunis, Tunisia.
BIAT’s Financial Strength Rating (FSR) is affirmed at ‘BB’, supported by its reasonably good liquidity profile with a sector-high level of customer deposits, as well as a sound base of liquid assets, improved and sound profitability, and increased loan loss coverage.
It is constrained by a low capital position and higher non-performing loans (NPLs) to date. The Outlook for the FSR is ‘Stable’.
BIAT’s Foreign Currency Ratings (FCR) are maintained at ‘BB’ Long-Term and ‘B’ Short-Term. The Outlook for the Foreign Currency Ratings remains at ‘Stable’.
The Support Rating is lifted to ‘3’ from ‘4’, reflecting its leading position in terms of assets and customer deposits in Tunisia and likely official support in case of need.
