S&P ups National Commercial Bank Jamaica

S&P said it raised its long-term issuer credit ratings on National Commercial Bank Jamaica Ltd. to BB- from B+.

The agency raised Jamaica’s sovereign ratings to BB- from B+ on Wednesday.

“The rating action on NCBJ follows the same action on the sovereign ratings on Jamaica, the country where the bank focuses its operations,” S&P said in a press release.

The outlook is stable.

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