AM Best downgrades Tunis Re's rating

AM Best downgrades Tunis Re's long-term financial strength and credit ratings.

The first rating has been reduced from B+ (good) to B (fair) with an upward revision of the outlook from negative to stable.

The long-term credit rating has been downgraded from "bbb-" to "bb+" with negative outlook.

This downgrade takes into account the high exposure of the Tunisian reinsurer to the increased economic and political risks that the country is facing.