LONDON, June 5 (Reuters) - Improvements in the political outlook suggest Egypt and Tunisia may be at the bottom of their ratings cycle, a Fitch ratings analyst said on Thursday.

"There have been some positive developments on the political side - maybe we are at the low point for the ratings on these countries," Paul Gamble, director in the sovereign ratings group at Fitch, told a briefing.

Fitch rates Egypt at B-minus with a stable outlook and Tunisia at BB- with a negative outlook.

(Reporting by Carolyn Cohn; Editing by Janet Lawrence)