Banque Internationale Arabe de Tunisie – Ratings Lowered ; Outlook Re mains Negative
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Ref: TN 00 2 21 CRA00- 01 13 October 202 2
Banque Internationale Arabe de Tunisie – Ratings Lowered ; 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 Bank Standalone Rating ( BSR ) of Banque Internationale Arabe de Tunisie (BIAT) to ‘B – ’ and ‘b-’, respectively, from ‘B’ and ‘b’. The Outlook on both ratings remain s Negative. At the same time, CI Ratings has affirmed the Bank’s Short-Term Foreign Currency Rating ( ST FCR ) of ‘B’ , Core Financial Strength ( CFS ) rating of ‘bb’ and Extraordinary Support Level ( ESL ) of Moderate.
The change in BIAT’s LT FCR and BSR follows a recent lowering in CI’s internal assessment of sovereign risk for Tunisia and also reflects the more challenging operating environment. The downward…