PARIS, (AP) – Moody’s Investor Service has downgraded Tunisia’s government bond ratings, citing the instability sparked by the ongoing political crisis in the northern African nation.
Moody’s cut the rating by one notch, to “Baa3” from “Baa2,” and also downgraded its outlook to negative from stable. The new rating is one notch above “junk bond” status.
Moody’s says in a statement Wednesday the downgrade reflects the “significant uncertainties” surrounding Tunisia’s economic and political future and threats to its future stability.
Moody’s says Tunisia has $775 million in bonds maturing this year. Moody’s says it expects Tunisia to receive assistance from abroad “if needed.”