After NCA elections

Tunisia: Standard & Poor's confirms BBB- rating

GMT 22:21 2011 Tuesday ,01 November

Arab Today, arab today Tunisia: Standard & Poor's confirms BBB- rating

Standard & Poor agency
Tunis - Tap

Standard & Poor agency U.S. rating agency Standard & Poor's announced, on Tuesday, that results of the National Constituent Assembly (NCA) elections in Tunisia had no impact on its rating which remains BBB with negative outlook.
Islamic party Ennahda won the elections with 90 seats and 41.47% of votes in the 217-member Constituent Assembly.
The Assembly will draft a new Constitution for the country. It will tackle primarily the formation of a new Government.
The U.S. rating agency said that "the line-up of the new Government is not in itself a factor that affects the rating."
S&P is instead focusing on the way the new Government will encourage economic recovery, through mid-term measures and structural reforms.
The rating agency had announced, last July 28, that it had lowered to "negative" against "stable" Tunisia's debt outlook, after having downgraded the rating by one point last March 16, two months after the ouster of President Ben Ali.

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