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Tunisia: Standard & Poor’s confirms BBB- rating after election

U.S. rating agency “Standard and Poor’s “(S & P) announced Tuesday that the results of the Constituent Assembly elections in Tunisia had no impact on the rating of the country, which remains BBB-with a negative outlook.

Islamist party “Ennahda” won the elections with 90 seats and 41.47% of the votes in the 217-member constituent assembly.

The assembly will draft a new Constitution for the country. It will tackle primarily the formation of a new government.

The U.S. rating agency said, however, that “the lineup of the new government is not in itself a factor that affects the rating.”S & P says instead it is focusing on how the new Government will encourage economic recovery through medium term measures and structural reforms.

The rating agency had lowered, on July 28, to “negative” against “stable,” the outlook of Tunisia’s debt, after downgrading the rate by one point on March 18, two months after the ouster of President Ben Ali.

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