Fitch cuts Tunisian non-banks

Fitch Ratings said it downgraded three Tunisian non-bank financial institutions' (NBFIs) national ratings following the agency’s decision to lower Tunisia’s sovereign rating to CCC- from CCC+.

Fitch lowered BH Leasing’s rating to BB+(tun) from BBB(tun) and its subordinated rating to BB-(tun) from BB+(tun); Compagnie Internationale de Leasing and its senior unsecured ratings to BBB-(tun) from BBB(tun); and Tunisie Leasing et Factoring and its senior unsecured ratings to BBB-(tun) from BBB(tun).

The outlook remains stable.

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