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Wednesday 23 June 2021
HomeNewsTunisia: Fitch affirms ATB and ATL; outlook negative

Tunisia: Fitch affirms ATB and ATL; outlook negative

Fitch Ratings has affirmed Arab Tunisian Bank’s (ATB) Long-Term Local Currency Issuer Default Rating (IDR) at ‘BB+’. The agency has also affirmed ATB’s and Arab Tunisian Lease’s (ATL) National Long-Term Ratings at ‘AA+(tun)’ and ‘BBB(tun)’, respectively. The Outlooks are Negative.

The rating actions follow Fitch’s downgrade of Tunisia’s Long-Term Local Currency IDR to ‘BB-‘ from ‘BB’ as a result of which it is now equalized with Tunisia’s Long-Term Foreign Currency IDR.

This was also driven by a change in Fitch’s sovereign rating criteria dated 22 July 2016.

ATB’s Long-Term Foreign Currency IDR and Viability Rating are unaffected by this rating action.

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