Fitch Ratings has affirmed Arab Tunisian Bank’s (ATB) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘. The Outlooks are Stable, it said in a statement.
The rating agency has also affirmed the bank’s Viability Rating (VR) at ‘ccc-‘ and National Long-Term rating at ‘AAA(tun)’ with a Stable Outlook.
ATB’s Long-Term IDRs and National Ratings are driven by potential support from the bank’s 64.2% shareholder, Jordan-based Arab Bank Plc (AB; BB/Stable), Fitch said.
ATB’s IDRs are constrained by Tunisia’s Country Ceiling of ‘B-‘, reflecting transfer and convertibility risks.
The bank’s National Ratings are the highest ratings among Tunisian issuers. Its ‘ccc-‘ VR is currently capped by Tunisia’s sovereign rating, the rating agency added.
