Following a review of National Commercial Bank Jamaica under Standard&Poor's revised bank criteria (published on Nov. 9, 2011) we are affirming our 'B-/C' issuer credit rating on the bank. The outlook is negative. The rating is based on the bank's strong business position, adequate capital and earnings, moderate risk position, weak liquidity, and average funding. The sovereign rating on Jamaica (B-/Negative/C) constrains the rating on the bank based on the significant ties between the government and the financial system. As we previously announced, on Dec. 13, 2011, Standard&Poor's Ratings Services affirmed its 'B-/C' issuer credit rating on National Commercial Bank Jamaica Ltd. (NCB). The outlook is negative. Under our new methodology, the bank's stand-alone credit profile
