(MENAFN) Moody's, the renowned credit rating agency, has announced a significant revision in its outlook for Tunisia, changing it from negative to stable while maintaining the country's credit rating at "CAA2". This adjustment, disclosed in a statement issued on Saturday, reflects Moody's assessment that the existing pressures confronting the Tunisian government are not expected to escalate significantly in the near term.
The agency's decision to revise Tunisia's outlook to stable underscores its belief that the country's economic and fiscal challenges are not anticipated to exacerbate in the foreseeable future. Moody's highlighted Tunisia's relatively limited domestic financing capacity and the lack of substantial external financing from multilateral and bilateral partners as key factors exerting pressure on the country's financial landscape.
Moreover, Moody's elaborated on its rationale behind maintaining Tunisia's credit rating at "CAA2", citing a considerable level of uncertainty regarding potential sources of financing amidst substantial funding requirements. This ambiguity surrounding Tunisia's financing sources, coupled with its significant financing needs, contributes to the agency's assessment of the country's creditworthiness within the "CAA2" category.
Overall, Moody's outlook revision and credit rating affirmation for Tunisia provide insights into the evolving economic and financial landscape of the country, emphasizing the ongoing challenges and the necessity for effective management of financing pressures to ensure sustained stability and resilience in Tunisia's economy.
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