Arab Tunisian Bank – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Arab Tunisian Bank (ATB) at ‘C+’ and ‘C’, respectively. The Outlook for the LT FCR remains Negative. At the same time, CI Ratings has also affirmed ATB’s Bank Standalone Rating (BSR) of ‘c’, Core Financial Strength (CFS) rating of ‘b’ and Extraordinary Support Level (ESL) of Moderate.

ATB’s LT FCR and BSR are constrained by CI’s internal assessment of sovereign credit risk for Tunisia. The Negative Outlook for the LT FCR is in line with CI’s internal assessment of sovereign risk for Tunisia, reflecting the continued very challenging operating environment and economy. The outlook also reflects very high external refinancing risks, aggravated by still large external financing needs and limited financing revenues given the absence of direct access to capital markets. It also…