The credit rating service agreement between Bulgaria and JCRA
was signed in 2005; it expired on June 30, 2007, but gets automatically renewed each year unless another agreement is negotiated.
Ward said that he expected the JCRA
to reverse its decision once JRPM had submitted a defence of its merger strategy
As to JPRA's authority, when JSSA and JCRA
were under the Air Force, which was the PR executive agency for DOD, they were arm twisters and could point out problems.
In a statement this week, JCRA said it also took note of the improvement in the country's "fiscal soundness"-the result of reforms implemented by the Aquino administration.
JCRA rates the Philippines' sovereign debt at BBB, or two notches above junk status.
The ratings mainly reflect resilience to external shocks, robust domestic demand underpinned by overseas Filipino workers' remittances, and progress on improvement of fiscal soundness," JCRA said.
Bulgaria has contacts with Moodys, Standard and Poors and JCRA
, which serve the needs of the country, the cabinet further point out.