Ever wondered what sovereign ratings ‘Made in China’ might look like? You know, the kind of ratings that China president Hu Jintao might have had in mind when he called for a more accurate ratings system at last month’s G20 meeting? Well, here’s your chance.
Over the weekend, Dagong Global Credit Rating Co., a Beijing-based rating agency and one of four dominant agencies in the PRC, published its first ever sovereign risk assessment. And as Dagong noted in its press release:
On the morning of July 11, 2010, Dagong Global Credit Rating Co., Ltd., a professional rating agency of China, released its sovereign credit risk reports of 2010 and for the first time the sovereign credit risk ratings for 50 Countries in Beijing. As a non-western rating agency, this is not only the first one in China, but also the first one in the world, that releases information on sovereign credit risks.
The results of Dagong’s assessment have been making headlines early this week, since they, err, diverge somewhat with those of western rating agencies like Moody’s, Fitch, Standard & Poor’s et al. Spot the differences in the table below: Read more