Fitch rates National Commercial Bank Jamaica

Fitch Ratings said it initiated rating coverage on National Commercial Bank Jamaica Ltd. (NCBJ) by assigning the following ratings with a stable outlook: long-term foreign currency at B+, long-term local currency at B+, short-term foreign currency at B, short-term local currency at B, individual at D and support at 4.

Fitch noted these ratings reflect NCBJ's dominant domestic franchise, adequate profitability and capital levels, which are tempered by the bank's high exposure to the sovereign and lack of revenue diversification, as well as a constraining operating environment.

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