Banque de Tunisie – Ratings Lowered ; Outlook Revised to Negative from Stable

Ref: TN 00 3 20 CRA00- 01 1 9 November 202 1

Banque de Tunisie – Ratings 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 Banque de Tunisie (BT) 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 lowered BT’s Bank Standalone Rating (BSR) to ‘b’ from ‘b+’ and r evised the BSR Outlook to Negative from Stable. The Bank’s Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of Moderate have both been affirmed.

The change in BT’s LT FCR and BSR and the revision of the Outlook to Negative follows the recent lowering of CI’s internal assessment of sov…