Moody's upgrade Tunisia rating

A reduction in domestic political risk emphasized by the successful democratic transition and installing of a broad unity government; reduced external funding challenges following the resumption of official financing and access to international capital markets; and the gradual reduction in fiscal and external imbalances has encouraged Moody’s to keep Tunisia’s sovereign rating at Ba3, with a stable outlook, FTSE Global Markets reported.

Moody's has changed the local-currency bond and deposit ceilings to Baa2 from Baa3 to reflect heightened economic and institutional strength, and left the foreign-currency bond ceiling unchanged at Ba1 and the foreign currency deposit ceiling at B1.