Fitch Ratings has today upgraded National Ratings and outlook of 8 Tunisian Leasing Companies.
The rating actions follow a periodic review of Tunisian leasing companies' National Ratings. National Ratings reflect the creditworthiness of an issuer relative to the best credit and to peers in the country.
The rating agency has upgraded El Wifack Leasing's National Long-term Rating to 'BBB-(tun)' from 'BB+(tun)'. The Outlook is Stable. Fitch has also affirmed Arab Tunisian Lease's National Ratings and removed them from Rating Watch Negative. Arab International Lease's, Attijari Leasing's, Compagnie Internationale de Leasing's, Hannibal Lease's, Modern Leasing's and Tunisie Leasing's National Ratings have also been affirmed. At the same time, Fitch has revised the Outlook on Compagnie Internationale de Leasing's National Long-term rating to Negative from Stable, and the Outlook on Modern Leasing's National Long-term rating to Stable from Negative.
The rating actions are as follows:
Modern Leasing
National Long-term Rating: affirmed at 'BBB(tun)'; Outlook revised to Stable from Negative
National Short-term Rating: affirmed at 'F3(tun)'
Arab International Lease
National Long-term Rating: affirmed at 'AA+(tun)'; Outlook Stable
National Short-term Rating: affirmed at 'F1+(tun)'
National senior unsecured debt rating: affirmed at 'AA+(tun)'
Arab Tunisian Lease
National Long-term Rating: affirmed at 'BBB(tun)'; removed from RWN; Outlook Negative
National Short-term Rating: affirmed at 'F3(tun)'; removed from RWN
National senior unsecured debt rating: affirmed at 'BBB(tun)'; removed from RWN
National Subordinated debt rating: affirmed at 'BB(tun)'; removed from RWN
Attijari Leasing
National Long-term Rating: affirmed at 'BB+(tun)'; Outlook Stable
National Short-term Rating: affirmed at 'B(tun)'
National senior unsecured debt rating: affirmed at 'BB+(tun)'
National subordinated debt rating: affirmed at 'B+(tun)'
Tunisie Leasing
National Long-term Rating: affirmed at 'BBB+(tun)'; Outlook Stable
National Short-term Rating: affirmed at 'F2(tun)'
National senior unsecured debt rating: affirmed at 'BBB+(tun)'
National subordinated debt rating: affirmed at 'BB+(tun)'
Compagnie Internationale de Leasing
National Long-term Rating: affirmed at 'BBB-(tun)'; Outlook revised to Negative from Stable
National Short-term Rating: affirmed at 'F3(tun)'
National senior unsecured debt rating: affirmed at 'BBB-(tun)'
National subordinated debt rating: 'affirmed at BB-(tun)'
El Wifack Leasing
National Long-term Rating: upgraded to 'BBB-(tun)'from 'BB+(tun)'; Outlook Stable
National Short-term Rating: upgraded to 'F3(tun)' from 'B(tun)'
National senior unsecured debt rating: upgraded to 'BBB-(tun)'from 'BB+(tun)'
Hannibal Lease
National Long-term Rating: affirmed at 'BB-(tun)'; Outlook Stable
National Short-term Rating: affirmed at 'B(tun)'
National senior unsecured debt rating: affirmed at 'BB-(tun)'
