Fitch Ratings said Wednesday it has revised Arab Tunisian Bank’s (ATB) National Long-Term Rating to ‘AAA(tun)’ from ‘AA+(tun)’ following the recalibration of Tunisia’s National Rating Scale. The Outlook is Stable. ATB’s other ratings are unaffected by the recalibration.
Fitch pointed out that the revision of ATB’s National Long-Term Rating is driven by the recalibration of the National Rating Scale.
Revision ratings are used to modify ratings for reasons that are not related to credit quality in order to reflect changes in the National Rating Scale, driven solely by the recalibration of the National Ratings correspondence table, it added.
National Ratings are a measure of relative credit risk among issuers in a country designed to help local investors differentiate risk. Tunisia’s national ratings are denoted by the unique identifier ‘(tun)’. Fitch adds this identifier to reflect the unique nature of the Tunisian national rating scale.
National scales are not comparable with Fitch’s international ratings scales or with other countries’ national rating scales, it noted.
