Fitch affirms Entreprise Tunisienne

Fitch Ratings said it affirmed Entreprise Tunisienne d'Activites Petrolieres national long-term rating at AA+(tun) with stable outlook and national short-term rating at F1+(tun).

Fitch noted that the ratings continue to reflect Entreprise Tunisienne's ownership and legal status as a 100%- public-owned company and its operational and strategic links to the Tunisian state.

The sovereign controls the company through representation on its board by several government ministries' and central bank representatives,t he agency said, adding that the sovereign also influences Entreprise Tunisienne's financial and business profile through dividend payments and approval of operating budget and investment decisions.

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