S&P: Tunisia banks on watch

Standard & Poor's said it took various rating actions on banks in Tunisia following recent ratings changes to Republic of Tunisia.

The agency said it lowered the long- and short-term ratings of Banque de l'Habitat to BB+/B from BBB-/A-3 and placed the long-term rating on Credit Watch with negative implications.

The agency said it placed Banque de Tunisie et des Emirats' BB long-term rating on CreditWatch with negative implications and affirmed its B short-term rating.

S&P said it placed Banque Tuniso-Koweitienne's BB+ long-term rating on CreditWatch with negative implications, along with Arab Tunisian Bank's BB+ long-term rating and B short-term rating..

The agency also said it affirmed Societe Tunisienne de Banque's BBpi rating.

S&P said it expects to resolve the CreditWatch status on the banks within the next three months, in line with that on the sovereign.

The ratings reflect the risk that economic growth prospects could weaken materially following the recent weeks of political unrest, the agency said.

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