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Tuesday 22 June 2021
HomeNewsTunisia: Fitch Affirms CPSCL at ‘AA-’, Outlook Negative

Tunisia: Fitch Affirms CPSCL at ‘AA-’, Outlook Negative

Fitch Ratings has affirmed Tunisia-based “Caisse des Prets et de Soutien des Collectivites Locales” (CPSCL) National Long-term rating at ‘AA-(tun)’ and National Short-term rating at ‘F1+(tun)’. The Outlook is Negative.

The affirmation follows the agency’s downgrade of Tunisia’s Long-term foreign currency Issuer Default Rating (IDR) to ‘BB-’ from ‘BB+’, Long-term local currency IDR to ‘BB’ from BBB-’, and Country Ceiling to ‘BB’ from ‘BBB-’. The affirmation indirectly reflects the affirmation of the sovereign creditworthiness within the National scale.

CPSCL’s ratings are linked to those of Tunisia, reflecting its quasi-sovereign status, the high probability of government support in case of need and its public sector policy role in providing infrastructure funding to Tunisian local authorities.

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