Industry chiefs call for Asian credit rating agency; 'big three' too ‘US-centric’

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Martin Wheatley, the outgoing chief executive of the Securities and Futures Commission (SFC), supports many industry participants in the Asia-Pacific region in believing that Asia needs to have its own internationally recognised rating agency to compete with Moody's Investors Service and Standard & Poor's of the US and Paris-controlled Fitch Ratings. "It would be great if Asia, China or Hong Kong had its own internationally recognised rating agency," says Wheatley. "They take time to deve