Tuesday, 27 January 2015

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Tunisia: S & P cuts country's sovereign rating one notch, cites political crisis

Standard and Poor's rating agency has cut Tunisia's sovereign rating by one notch to "BB-" against "BB," outlook negative, due to the political crisis in the country.

"We believe that political tensions have risen sharply, increasing the risk for the democratic transition in Tunisia," the agency said in a statement Tuesday.

"The outlook is negative, reflecting the risk that the political situation further deteriorates," it adds.

SP had already lowered in May 2012 the country's long-term debt rating two notches to "BB," relegating the country in the category of speculative borrowers.

The agency kept the short-term rating of the country unchanged at 'B'.

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