On August 13, we raised our short-term rating on Jamaica to 'B' from 'C' following the revision of our methodology for linking short- and long-term ratings on corporate and sovereign issuers. We are raising the short-term rating on National Commercial Bank Jamaica to 'B' from 'C' and affirming the 'B-' long-term foreign and local currency issuer credit ratings on the bank. The outlook remains negative, reflecting the outlook on Jamaica, as the sovereign rating currently caps the bank's stand-alone credit profile. On Aug. 15, 2012, Standard&Poor's Ratings Services raised its short-term issuer credit rating on National Commercial Bank Jamaica Ltd. (NCB) to 'B' from 'C'. We also affirmed our 'B-' long-term foreign and local currency issuer credit ratings
