International credit ratings agency Capital Intelligence (CI), said, Wednesday, it has affirmed the financial strength ratings of “Banque de Tunisie” (BT) to BB + ‘, supported by strong capital adequacy and very good profitability. The rating is however constrained by tight liquidity, high levels of non-performing loans and only adequate coverage. The outlook for the financial strength rating remains stable.
The long-term rating of foreign currency has been changed from ‘BB +’ to ‘BB’, reflecting internal evaluation constrained by sovereign risk factors in Tunisia.
The short-term rating of foreign currency is maintained at ‘B’. The outlook for foreign currency ratings changes from “negative” to “stable”. The operating environment remains very difficult in Tunisia, with a fairly distant stronger recovery. The Support Rating is affirmed at ‘3’.