A ra b Tunisian Bank – Ratings Downgraded ; Outlook Re mains Neg ative

Ref: TN 00 6 2 1 CRA00- 01 2 5 Octo ber 202 2

A ra b Tunisian Bank – Ratings Downgraded ; Outlook Re mains Neg ative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating ( LT FCR ) of Arab Tunisian Bank (ATB) to ‘B – ’, from ‘B’ and affirmed the Short-Term Foreign Currency Rating ( ST FCR ) at ‘B’. The Outlook f or the LT FCR remains Negative. A t the same time, CI Ratings has lowered ATB’s Bank Standalone Rating (BSR) to ‘b-’, from ‘b’, with a Negative Outlook. The Bank’s Core Financial Strength ( CFS ) rating has also been lowered to ‘b+’ from of ‘bb-’. The ESL of Moderate has been affirmed.

The change in ATB’s LT FCR and BSR follows a recent lowering of CI’s internal assessment of sovereign risk for Tunisia . It also reflects a more difficult operating…