RPT-Fitch Downgrades Tunisiana to 'BB'; Outlook Negative
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Nov 1 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has downgraded Tunisiana SA's Long-term foreign currency Issuer Default Rating (IDR) to 'BB' from 'BBB-' and affirmed the local currency IDR at 'BBB-'. The Outlook on both IDRs is Negative. The National Long-term rating has been upgraded to 'AAA(tun)' from 'AA(tun)' with a Stable Outlook.
The rating actions follow Fitch's downgrade of Tunisia's sovereign rating and Country Ceiling to 'BB-'/Negative and 'BB', respectively from 'BB+'/Negative and 'BBB-' (see "Fitch Downgrades Tunisia to 'BB-', Outlook Negative"; dated 30 October 2013 at www.fitchratings.com) and the subsequent recalibration of the Tunisian National Rating Scale.
Please see 'Fitch Affirms Tunisiana at 'BBB-'; Outlook Negative' dated 24 July 2013 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities
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