We recently raised our sovereign ratings on Jamaica to 'B-/C' from 'SD'. We are revising our CreditWatch listing on Jamaica-based bank NCB's 'CCC/C' ratings to positive from developing, where they were placed on Jan. 15, 2010. We expect to resolve the CreditWatch in the next few weeks. On March 1, 2010, Standard&Poor's Ratings Services revised its CreditWatch listing on its 'CCC/C' ratings on National Commercial Bank Jamaica Ltd. (NCB) to positive from developing. The CreditWatch revision follows our raising of the foreign- and local-currency sovereign credit ratings on Jamaica to 'B-/C' from 'SD', after the conclusion of the country's debt exchange. Our survivability assessment on NCB remains three notches above NCB's long-term rating. We revised the CreditWatch on
