Following a review of The National Commercial Bank (NCB) under Standard&Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our ratings on the bank at 'A+/A-1'. Our ratings on NCB reflect its 'a-' anchor, as well as its adequate business position, strong capital and earnings, moderate risk position, above-average funding, and strong liquidity. The long-term rating on NCB benefits from one notch of uplift for potential extraordinary government support if needed. The stable outlook reflects our belief that, everything else being equal, NCB will manage to increase its capitalization and maintain it at a strong level on a sustainable basis. On Dec. 14, 2011, Standard&Poor's Ratings Services affirmed its long- and short-term counterparty credit
