S&P cuts Arab Tunisian Bank to B

S&P said it lowered the long-term counterparty credit ratings on Arab Tunisian Bank to B from B+ and affirmed its B short-term counterparty credit rating.

The outlook is stable.

S&P said the downgrade reflects its view that the bank’s creditworthiness is highly dependent on the risks associated with its domestic operating environment and continues to be limited by the view of Tunisia's creditworthiness.

In the agency’s view, the challenges and implementation risks to Tunisia's fiscal consolidation and external financing have become substantial – particularly in the context of weak economic recovery, increasing debt and important social tensions.

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