Fitch affirms SCE

Fitch Ratings said it affirmed Societe des Ciments d'Enfidha's national long-term rating at BBB+(tun) and its national short-term rating at F2(tun).

The outlook is stable.

Ratings reflect the issuer's leading market position in the Tunisian cement industry, vertical integration in ready-mix concrete and its protected market position, the agency said.

Ratings also consider business cyclicality, limited geographical coverage and exposure to foreign-exchange risk, the agency noted.

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