MEXICO CITY (Standard&Poor's) April 12, 2011--Standard&Poor's Ratings Services said today that it has affirmed its 'B-' long-term and 'C' short-term counterparty ratings on National Commercial Bank Jamaica Ltd. (NCB). At the same time, Standard&Poor's affirmed its 'BB-' survivability assessment on NCB. The outlook remains stable. "The ratings on National Commercial Bank Jamaica Ltd. are constrained by the sovereign ratings on Jamaica (B-/Stable/C) due to the bank's high exposure to securities and loans with the government and public entities," Standard&Poor's credit analyst Elena Enciso said. The stable outlook reflects Standard&Poor's view that NCB's financial profile benefits from the Jamaican government's improved financial position following the government's debt restructuring. Any positive rating
