Fitch Ratings has affirmed the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of Arab Tunisian Bank (ATB) at ‘B-’, maintaining a Stable Outlook, according to a statement released Thursday.
The ratings agency also affirmed the bank’s Viability Rating (VR) at ‘ccc+’, citing a balance between structural weaknesses and support factors linked to its majority shareholder.
Fitch said ATB’s ratings are primarily supported by the potential backing of its parent company, Arab Bank Plc, which holds 64.2% of the Tunisian lender’s capital.
The agency assigned ATB a Shareholder Support Rating (SSR) of ‘b-’, reflecting expectations that the Jordan-based banking group could provide support if needed.
However, ATB’s ratings remain constrained by Tunisia’s Country Ceiling of ‘B-’, which reflects risks related to currency transfer and convertibility.
Fitch noted that ATB’s National Ratings are at the highest level possible under the current sovereign ceiling.
