Fitch affirms Arab Tunisian

Fitch Ratings said it affirmed Arab Tunisian Bank's long-term foreign- and local-currency issuer default ratings at BBB+.

The outlook is stable.

The ratings are driven by a high probability of support from its majority shareholder, Arab Bank plc, Fitch said. The ratings also reflect its sound profitability, relatively high liquidity and increasing capital base, the agency said.

The ratings also factor in asset quality issues and concentration in the funding base, Fitch added.

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