Research Update: National Commercial Bank Jamaica 'B-/B' Ratings Affirmed; BICRA Group On Jamaica Revised To '9' From '10'

On Nov. 28, 2014, we revised our Banking Industry Country Risk Assessment (BICRA) on Jamaica to group '9' from group '10'. Jamaica-based bank NCBJ remains as the largest financial institution in the country by assets. It holds a significant share of the Jamaican financial system's assets and deposits, and operates in a difficult economic environment. We are affirming our long-term 'B-' and 'B' short-term issuer credit ratings on the bank. At the same time, we are revising the bank's SACP to 'b+' from 'b'. The positive outlook reflects that on the sovereign. As one of the largest financial institutions in the country and largely exposed sovereign debt, we expect the ratings on the bank to move in tandem with the

...On Nov. 28, 2014, we revised our Banking Industry Country Risk Assessment (BICRA) + on Jamaica to group '9' from group '10'. Jamaica-based bank NCBJ remains as the largest financial institution in the + country by assets. It holds a significant share of the Jamaican financial system's assets and deposits, and operates in a difficult economic environment. We are affirming our long-term 'B-' and 'B' short-term issuer credit ratings on + the bank. At the same time, we are revising the bank's SACP to 'b+' from 'b'. The positive outlook reflects that on the sovereign. As one of the largest + financial institutions in the country and largely exposed sovereign debt, we expect the ratings on the bank to move in tandem with the sovereign ratings....

Research Update