Fitch lowers Modern Leasing

Fitch Ratings said it downgraded Modern Leasing's national long-term rating to BBB-(tun) from BBB(tun).

The agency also said it affirmed the national ratings of Wifack International Bank and Arab International Lease.

The outlook is stable.

The downgrade on Modern Leasing follows the recalibration of the national rating scale for Tunisia after the downgrade of Tunisia's long-tem local-currency issuer default rating to BB- from BB, Fitch said.

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