Capital Intelligence Ratings (CI Ratings or CI) announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Arab Tunisian Bank (ATB) to ‘C+’ and ‘C’, respectively, from ‘B-‘ and ‘B’. The Outlook for the LT FCR remains Negative.
At the same time, CI Ratings has lowered ATB’s Bank Standalone Rating (BSR) by one notch to ‘c’, from ‘b-‘, and the Core Financial Strength (CFS) rating to ‘b’ from ‘b+’. ATB’s Extraordinary Support Level (ESL) of Moderate has been affirmed.
