...Support Drives Ratings: Arab Tunisian Bank's (ATB) Issuer Default Ratings (IDRs) and National Ratings are driven by a moderate probability of support from its majority shareholder, Arab Bank Plc (AB, BB/Stable). Strategically Important Subsidiary: Fitch Ratings' view is that ATB is strategically important to AB and that AB has ample resources to support ATB, whose assets represent 7%-8% of AB's consolidated assets and pre-tax profits. In line with our criteria, we notch ATB's rating down once from the parent's rating. Country Ceiling Caps IDR: Tunisia's Country Ceiling (CC) of `BB-', which captures transfer and convertibility risks, caps ATB's Long-Term IDRs. The Outlook on ATB's IDR is negative as Tunisia's rating is also on Negative Outlook and the CC would likely be revised downwards if the sovereign was downgraded. Stable Ownership: Ownership has not changed and AB holds 64% of ATB. AB's commitment to Tunisia has not reduced despite challenges in the country and we do not anticipate...
