Fitch Ratings has downgraded Arab Tunisian Bank’s (ATB) Long-term Foreign and Local Currency Issuer Default Ratings (IDR) to ‘BB-‘ from ‘BB’ and ‘BB+’, respectively. The Outlooks are Stable, the ratings agency said on Monday.
The bank’s Support Rating has been affirmed at ‘3’ and the National Long-Term Rating at ‘AA+(tun)’. A full list of rating actions is at the end of this rating action commentary, it added.
The rating actions follow Fitch’s downgrade of Tunisia’s Long-Term Foreign and Local Currency IDRs and the downward revision of Tunisia’s Country Ceiling, the agency pointed out.
