Fitch Affirms Ratings of Eight Tunisian NBFIs; Upgrades Enda Tamweel

Tunisia – Fitch Ratings, on Wednesday, affirmed the National Ratings of eight Tunisian leasing & factoring companies & upgraded the National Long-Term (LT) Rating of Enda Tamweel SA (Enda) to ‘BBB(tun)’/Stable from ‘BBB-(tun)’/Stable.

They are BTK Leasing (BTKL), Arab Tunisian Lease (ATL), Attijari Leasing (AL), Compagnie Internationale de Leasing (CIL), Hannibal Lease SA (Hannibal), BH Leasing (BHL) and Tunisie Leasing et Factoring (TLF), as well as one factoring company, Union De Factoring (Unifactor; UF).

Fitch has also upgraded the long-term rating of microfinance institution Enda Tamweel to BBB stable from BBB -” stable.

The National Ratings of BTKL, CIL, Hannibal, TLF, Enda and UF are driven by their standalone creditworthiness. AL, ATL and BHL’s ratings are support-driven, based on support from institutional shareholders.

The upgrade of Enda principally reflects Enda’s “stronger and resilient” business profile. The rating agency believed that this microfinance institution was less negatively affected by the continued challenging Tunisian operating environment when compared to leasing and factoring peers.

Source : Zawya

Leave a Reply

Your email address will not be published. Required fields are marked *