HomeNewsTunisia: Fitch Affirms ATB at 'BB'; Outlook Negative

Tunisia: Fitch Affirms ATB at ‘BB’; Outlook Negative

Fitch Ratings has affirmed Arab Tunisian Bank’s (ATB) Long-term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB’ and ‘BB+’ respectively and has subsequently removed them from Rating Watch Negative (RWN).

The Outlooks on ATB’s Long-term IDRs are Negative. ATB’s Support Rating has also been affirmed at ‘3’.

Although AB’s Long-term IDR has been downgraded by three notches, ATB’s Long-term Foreign Currency IDR has been affirmed at ‘BB’ as it remains capped by Tunisia’s Country Ceiling (CC) of ‘BB’. ATB’s Long-term Local Currency IDR has been affirmed at ‘BB+’, maintaining the one-notch differential with its Long-term Foreign Currency IDR.

Fitch is maintaining ATB’s 33%-subsidiary Arab Tunisian Lease’s (ATL) National Ratings on RWN and will resolve the RWN on ATL’s ratings in 1Q14 as part of Fitch’s sector review of Tunisian leasing companies.

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