Fitch Ratings has revised the outlook of Tunisia from negative to stable. Similarly, it affirmed the long-term issuer default ratings of foreign exchange and local currency (IDR) at ‘BB-‘ and ‘BB’ respectively.
Fitch affirmed its rating of Tunisia’s unsecured foreign currency bonds at BB–. It rates the likelihood that country will default on its foreign currency liabilities at BB–, and on its domestic currency liabilities BB.
A BB rating indicates “an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time”, according to Fitch.
Tunisia’s coalition government “lays the ground for better political stability in the country”, Fitch said on Friday.