Moody's Investors Service lowered its credit rating of Tunisia to Baa3 from Baa2 on Wednesday and said it may cut it further because of instability and unrest following the ousting of strongman Zine al-Abidine Ben Ali.
"The current uncertainties about the economic and political consequences of the collapse of Tunisia's previous political regime are the main drivers for the decision to downgrade the government's bond ratings by one notch and assign a negative outlook," said Aurelien Mali, Moody's lead sovereign analyst for Tunisia.
"Moody's will closely monitor Tunisia's political risk and stability over the next few months, as a further outburst of violence and disorder could exert added negative pressure on the economy," he said.
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