S&P: Tunisia, Central Bank unchanged

Standard & Poor's said that the outcome of the election for the constitutional assembly in the Republic of Tunisia has no immediate effect on the BBB- and A-3 sovereign ratings, as well as the Central Bank of Tunisia's BBB- and A-3 ratings.

The outlook is negative.

S&P noted that these elections, which were held Oct. 23, were the first since former president Ben Ali fled the country in January during the Jasmine revolution.

Election results indicated that the Islamist party, Ennhada, garnered 41.5% of votes and 90 seats. Ennhada said coalition talks are now underway and that it would form a government within 10 days, the agency said.

Voter participation was extremely high for the election at about 90% of eligible voters, S&P added.

The composition of the new government is not, in itself, a rating factor, the agency said.

The focus is on whether the new government will support the economic recovery by taking medium-term policy measures and pursuing structural reforms while maintaining macroeconomic stability, S&P said.

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