Fitch Ratings-London-05 June 2020: Fitch Ratings has recalibrated its Tunisian National Rating scale. This reflects changes in the relative creditworthiness of Tunisian issuers following Fitch’s downgrade of the country’s sovereign rating to ‘B’ with a Stable Outlook from ‘B+’ on 12 May 2020.
The recalibration will result in rating actions for some issuers with Tunisian National Ratings. These rating revisions will be announced shortly.
National Scale Ratings are a risk ranking of issuers in a particular market designed to help local investors differentiate risk. Tunisia’s national scale ratings are denoted by the unique identifier ‘(tun)’. Fitch adds this identifier to reflect the unique nature of the Tunisian national scale. National scales are not comparable with Fitch’s international ratings scales or with other countries’ national rating scales.