Capital Intelligence Ratings (CI Ratings or CI) said Thursday it has downgraded the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Banque Internationale Arabe de Tunisie (BIAT) 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 BIAT’s Bank Standalone Rating (BSR) by one notch to ‘c’, from ‘b-‘, and the Core Financial Strength (CFS) rating to ‘bb-‘ from ‘bb’. The Extraordinary Support Level (ESL) of Moderate has been affirmed.
