Fitch Ratings has assigned Tunisia's new EUR700 million 6.375% notes maturing in July 2026 a final rating of 'B+'. This replaces the expected rating of 'B+(EXP)' that Fitch assigned on 1 July 2019.

KEY RATING DRIVERS

The rating is in line with Tunisia's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B+', which has a Negative Outlook.

RATING SENSITIVITIES

The rating would be sensitive to changes in Tunisia's Long-Term Foreign-Currency IDR.

On 27 June, Fitch affirmed Tunisia's Long-Term Foreign- and Local-Currency IDRs at 'B+' with a Negative Outlook.