Fitch: Bank of Jamaica view positive

Fitch Ratings said it affirmed National Commercial Bank Jamaica Ltd.’s long-term foreign currency and local currency issuer default ratings at B- and its viability rating and support rating floor at b-.

The agency also revised the bank’s outlook to positive from stable, in line with Fitch's revision of the sovereign's outlook from stable to positive on Feb. 19.

Fitch said the outlook revision in line with the sovereign due to the high influence of the operating environment on the bank’s ratings and its resilient financial performance under sovereign stress. The bank’s support rating floor is equalized with the sovereign's long-term issuer default rating due to the bank's systemic importance.

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