A rab Tunisian Bank – Ratings Lowered ; LT FCR Outlook Re mains Negative
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Ref: TN 0 06 2 2 CRA00- 01 25 Octob er 202 3
A rab Tunisian Bank – Ratings Lowered ; LT FCR Outlook Re mains Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has downgraded the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating ( ST FCR ) of A rab Tunisian Bank ( A T B ) to ‘C + ’ and ‘C’, respectively, from ‘B – ’ and ‘B ’ . The Outlook for the LT FCR re mains Negative. At the same time, CI Ratings has lowered A T B ’s Bank Standalone Rating (BSR) by one notch to ‘ c ’ , from ‘b – ’ , and the Core Financial Strength (CFS) rating to ‘b’ from ‘b + ’ . A T B ’s Extraordinary Support Level (ESL) of Moderate has been affirmed.
The change in ATB’s FCRs and BSR follows a recent lowering in CI’s internal assessment of sovereign risk for Tunisia and…