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Fitch changes outlook on Arab Tunisian Bank, affirms ratings

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Fitch changes outlook on Arab Tunisian Bank, affirms ratings

Fitch Ratings on June 1 revised the outlook on Arab Tunisian Bank's long-term foreign- and local-currency issuer default ratings to negative from stable while affirming the rating at BB-.

The outlook revision follows a similar action on Tunisia's sovereign issuer default rating May 27.

The rating agency affirmed the bank's short-term foreign- and local-currency issuer default ratings at B, its support rating at 3 and the viability rating at "b."

Fitch also affirmed the bank's AA+(tun)/F1+(tun) national long- and short-term ratings, with the long-term rating carrying a stable outlook. The bank's AA+(tun) national senior unsecured debt was also affirmed.

The Tunisian bank is owned by Jordan's Arab Bank Group.