Arab Tunisian Bank’s LT FCR Lowered; Outlook Revised to Negative from Stable

Arab Tunisian Bank’s LT FCR Lowered; Outlook Revised to Negative from Stable

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 for the LT FCR has been revised to Negative from Stable. At the same time, CI Ratings has affirmed ATB’s Bank Standalone Rating ( BSR ) at ‘b’ but r evised the BSR Outlook to Negative from Stable. The Bank’s Core Financial Strength ( CFS ) rating of ‘bb-’ and ESL of Moderate have both been affirmed.

The change in ATB’s LT FCR and the revision of the Outlook to Negative follows the recent lowering of CI’s internal assessment of sovereign credit risk for Tunisia to reflect our view that sovereign risk has increased and that the…