Ratings agency Standard & Poor’s has lowered the ratings of five Tunisian banks in the wake of the downgrade of Tunisia’s long- and short-term foreign currency sovereign ratings to ‘BB/B’.
The agency said lowering of the sovereign ratings of Tunisia has a direct negative impact on the five Tunisian banks, namely the long-term ratings of the Arab Tunisian Bank, “Banque de l’Habitat,” “Banque Tuniso-Koweitienne,” the “Banque de Tunisie et des Emirats”and the”Société Tunisienne de Banque.”
S & P also downgraded the short term ratings of the Arab Tunisian Bank. At the same time, the agency has put the long-term ratings of the “Banque de Tunisie et des Emirats”on negative outlook.
However, prospects for the “Banque de l’Habitat,” “Banque Tuniso-Koweitienne” and the Arab Tunisian Bank are stable.