Société Tunisienne de Banque – Ratings Affirmed with a Stable Outlook
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Summary
Ref: TN 0 0 4 1 9 CRA00- 01 2 December 2020
Société Tunisienne de Banque – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) has affirmed the L ong-Term Foreign Currency Rating (LT FCR ) and Short-Term Foreign Currency Rating (S T FCR ) of Société Tunisienne de Banque (STB) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed STB ’s B ank S tandalone R ating (BSR) of ‘b’, C ore F inancial S trength (CFS) rating of ‘b + ’ , and E xtraordinary S upport L evel (ESL) of Moderate. The Outlook for the ratings remains Stable.
STB’s LT FCR is set one notch above the BSR due to the moderate likelihood of extraordinary support from the authorities in the event of need. The Moderate ESL balances the relatively weak financial strength of the sovereign against the strong willingness of the government to assist the Bank in the event…