Fitch cuts Tunisiana

Fitch Ratings said it has downgraded Tunisiana SA's long-term foreign currency issuer default rating to BB from BBB- and affirmed the local currency issuer default rating at BBB-.

The outlook is negative.

The national long-term rating has been upgraded to AAA(tun) from AA(tun) with a stable outlook, the agency added.

The rating actions follow Fitch's downgrade of Tunisia's sovereign rating and country ceiling to BB-/negative and BB, respectively, from BB+/negative and BBB-and the subsequent recalibration of the Tunisian national rating scale.

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