NEW YORK (Standard & Poor's) Dec. 20, 2002--Standard & Poor's Ratings Services said today that it revised its outlook on its foreign currency rating assigned to National Commercial Bank Jamaica Ltd. (NCB) to negative from stable. The long- and short-term foreign and local currency ratings of 'B+/B' were affirmed. The stable outlook on the local currency rating was affirmed. "The outlook revision follows the rating actions on Jamaica's sovereign credit ratings, and reflects NCB's significant exposure to Jamaica's sovereign risk, with most of the bank's assets represented by government securities," said credit analyst David Olivares. The bank's steps toward improving its financial profile are expected to continue. Complete ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based
