Société Tunisienne de Banque – LT FCR Downgraded; Outlook Revised to Negative from Stable

Ref: TN 0 0 4 20 CRA00- 01 16 November 202 1

Société Tunisienne de Banque – LT FCR Downgraded; 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 Société Tunisienne de Banque (STB) 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 affirmed STB’s Bank Standalone Rating (BSR) at ‘b’ but r evised the BSR Outlook to Negative from Stable. The Bank’s Core Financial Strength (CFS) rating of ‘b+’ and Extraordinary Support Level (ESL) of Moderate have both been affirmed.

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