the world's only bank rating agency.

The Thompson BankWatch Inc. rating means the "company is clearly viewed as a good credit. While some shortcomings are apparent, they are not serious and/or are quite manageable in the short-term''.

Other international banks with the rating are: Australia and New Zealand Bank, Bank Brussel Lambert, Banque Indosuez, Royal Bank of Scotland, Barclays Bank PLC, Banque Paribas, IBJ Schroder Bank and Trust Co., and National Westminster PLC.

"Bermuda Commercial Bank is extremely pleased with the rating which has been offered and is proud to be keeping company with financial institutions such as Barclays and Indosuez. This is a reflection of our risk adverse policies and strong balance sheet,'' said Commercial Bank managing director Ms Audette Exel.

The B/C rating applies to an "intermediate'' time-frame.

New York-based Thompson has nine issuer rating categories, A to E with B/C fourth from the top.