Moody’s announced on February 28 that it had upgraded Tunisia’s credit rating from CAA2 to CAA1 with a stable outlook. Moody’s also upgraded the rating of the Central Bank of Tunisia’s senior unsecured debt from Caa2 to Caa1, and maintained the stable outlook. According to the agency, the revision of Tunisia’s rating reflects the improvement in the external debt repayment profile of Tunisia’s private sector, as well as the Central Bank of Tunisia’s (BCT) ability to maintain stable foreign exchange reserves over the past two years. As a result, Tunisia’s…
Moody’s upgrades Tunisia’s rating to Caa1 with stable outlook
