Fitch ups Arab International

Fitch Ratings said it upgraded Arab International Lease's national long- and short-term ratings to A+(tun) from BBB+(tun) and F1(tun) from F2(tun), respectively.

The agency also said it upgraded its national senior unsecured debt rating to A+(tun) from BBB+(tun).

The outlook is stable.

The upgrades reflect the material increase in Banque Tuniso-Koweitienne's control of the company's capital, Fitch said.

The ratings are underpinned by the support that Arab International Lease can expect from its main direct shareholder and from its ultimate parent, Fitch said.

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