Sovereign Quarterly Review
July 29, 2010

JCR has released following ¡ÈSovereign Quarterly Review¡É

Poland: PO strengthens its political base
Bulgaria: Government revises fiscal deficit estimate upward

For major rated emerging market countries, we make public our analysis and evaluation on their creditworthiness through ratings and outlooks based on an annual review and when unpredictable matters arise. In addition, we express our views of how their ratings would be affected by various important developments concerning these countries in our ¡ÈSovereign Quarterly Review¡É. However, this publication does not constitute any rating action.

The reports are also available on our website (http://www.jcr.co.jp/english/rat_sove/index.php), listed under ¡ÈSovereign and Supranationals¡É.