The sovereign credit rating on Jamaica was raised after it completed its debt restructuring. We are raising our ratings on NCB, including the counterparty credit rating to 'B-' from 'CCC'. We expect NCB to benefit from Jamaica's improved financial position. On April 20, 2010, Standard&Poor's Ratings Services raised its ratings on National Commercial Bank Jamaica Ltd. (NCB), including raising the long-term counterparty credit rating to 'B-' from 'CCC'. At the same time, we affirmed the short-term rating at 'C'. The ratings were removed from CreditWatch Positive, where they were placed March 1, 2010. We also raised our survivability assessment on NCB to 'BB-' from 'B'. The outlook is stable. The rating action primarily reflects the upgrade of Jamaica
