Fitch lifts Arab Tunisian Bank view to stable

Fitch Ratings said it affirmed Arab Tunisian Bank’s long-term foreign- and local-currency issuer default ratings at BB and BB+, respectively.

The outlook on the bank’s long-term foreign-currency was revised to stable from negative.

The outlook on its long-term local-currency rating remains negative.

The actions follow the recent revision of the outlook on Tunisia’s long-term foreign-currency issuer default rating to stable from negative, Fitch said.

The bank’s ratings are driven by the moderate probability of support it could expect to receive, if required, from its 64.2% shareholder, Arab Bank plc, the agency said.

This is because Arab Tunisian Bank is strategically important to Arab Bank as the latter remains committed to the development of retail banking in Tunisia, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.