Fitch Ratings has placed Tunisia's Long-term foreign currency Issuer Default Rating (IDR) of 'BBB' and its Long-term local currency IDR of 'A-' on Rating Watch Negative (RWN). The agency has affirmed the Country Ceiling at 'BBB+' and affirmed the Short-term foreign currency IDR at 'F2'.
Moody's Investors Service has downgraded to Baa3 from Baa2 the local and foreign currency government bond ratings of the Tunisian government and changed the outlook to negative from stable. Concurrently, Moody's has also downgraded the government's foreign currency bond ceiling to Baa1 from A3, the foreign currency deposit ceiling to Baa3 from Baa2 and the short-term rating to P-3 from P-2. All the other ratings and ceilings are unchanged.
R&I has downgraded the Foreign Currency Issuer Rating for Tunisia to BBB and placed it on the Rating Monitor with a view to downgrading because the country's political and social stability, which had underpinned the A-rating, has been undermined. R&I will keep a close eye on the impact this turmoil may have on the economy, while following how the political and social situations will develop under the interim government.
Republic of Tunisia Ratings Put On Watch Negative On Continuing Uncertainty; Local Currency Rating Lowered To 'BBB+'.