Fitch rates ABC Tunisie bond AA+(tun)

Fitch Ratings said it assigned Arab Banking Corp. Tunisie (ABC Tunisie) long- and short-term national ratings of AA+(tun) and F1+(tun), respectively.

The agency also assigned an AA+(tun) rating to ABC Tunisie's senior unsecured bond.

Fitch said the senior bond is rated in line with the bank's long-term national rating.

The national ratings are driven by potential support from the bank’s parent, Arab Banking Corp. BSC (BBB-/stable), the agency said.

Fitch said it believes that the ability of Arab Banking to support ABC Tunisie is high as indicated by its foreign currency issuer default rating, but its propensity to do so may be lower because of the limited role played by ABC Tunisie in the group.

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