...Support Drives Ratings: Arab Tunisian Bank's (ATB) Issuer Default Ratings (IDR) and National Ratings are based on a moderate probability of support from its majority shareholder, Arab Bank Plc (AB, BB+/Negative). This considers AB's strong ability and willingness to offer support, but also Tunisia's Country Ceiling (CC) of `BB-', which caps ATB's IDR at this level. Strong Ability to Support: Fitch Ratings believes AB has ample resources to support ATB, whose assets represent 7%-8% of AB's consolidated assets and pre-tax profits. Strategically Important Subsidiary: ATB fulfils its parent's objective of maintaining a strong presence in North Africa and is AB's largest subsidiary abroad. Stable Ownership: Ownership has not changed, with AB holding 64% of ATB. AB's commitment to Tunisia has not reduced despite challenges in the country and we do not anticipate any divestment of ATB. Strong Integration with Parent: ATB is well integrated with AB, which defines the subsidiary's strategy, oversees...
