We revised our industry risk for Jamaican banks to '8' from '7', given our concern of domestic banks' high exposure to sovereign bonds. Non-loan asset base is growing faster than credit in Jamaica. As such, we revised our stand-alone credit profile (SACP) on domestic bank, NCBJ, to 'b' from 'b+'. At the same time, we affirmed our 'B' long- and 'B' short-term issuer credit ratings on the bank. The outlook remains stable. The sovereign ratings constrain those on NCBJ. Therefore, we expect the ratings on the bank to move in tandem with those on the sovereign. On Nov. 24, 2015, Standard&Poor's Ratings Services revised its Banking Industry Country Risk Assessment (BICRA) on Jamaica to group '10' from '9'.
