FirstCaribbean International Bank Ltd. 'A-/A-2' Rating Affirmed Jul 05

Standard & Poors, July 2005

Abstract
MEXICO CITY (Standard & Poor's) July 25, 2005--Standard & Poor's Ratings Services said today that it affirmed its 'A-/A-2' counterparty credit and CD ratings on FirstCaribbean International Bank Ltd. (FirstCaribbean). The outlook is stable. The ratings on FirstCaribbean are underpinned by its regional infrastructure, business diversification, and strong market share in the Caribbean; the success of its integration process; and its financial condition. The ratings also consider the support received from both U.K.-based Barclays Bank PLC (AA/Stable/A-1+) and Canadian Imperial Bank of Commerce (A+/Stable/A-1), FirstCaribbean's main shareholders. These factors are balanced by the challenges to expand the business in a conservative manner in a highly competitive operating environment in the Caribbean; the relative lack of economic diversity; and country concentration,...

Companies mentioned in this report are:
- FirstCaribbean International Bank Limited
- Barclays Bank PLC
- Canadian Imperial Bank of Commerce

Action: Affirmed
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- FirstCaribbean International Bank Limited
- Barclays Bank PLC
- Canadian Imperial Bank of Commerce

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