Banque de Tunisie – Ratings Affirmed, Outlook Revised to Stable from Negative

24 October 2025

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 Banque de Tunisie (BT or the Bank) at ‘C+’ and ‘C’, respectively. The Outlook for the LT FCR has been revised to Stable from Negative. At the same time, CI Ratings has affirmed BT’s Bank Standalone Rating (BSR) of ‘c’, Core Financial Strength (CFS) rating of ‘bb-’ and Extraordinary Support Level (ESL) of Moderate. The BSR Outlook has been revised to Stable.

BT’s LT FCR is constrained by CI’s internal assessment of sovereign credit risk for Tunisia. The Stable Outlook for the LT FCR is in line with CI’s internal assessment of sovereign risk for Tunisia, reflecting stabilising sovereign risk factors, albeit still at a high level. These signs reflect the government’s capacity to honour in a timely manner its domestic and external debt service despite limited…