Local credit rating agencies offer alternative to ‘big three’

First-rate ambitions


Dagong Global Credit Rating, operating out of Beijing, generated international attention in July 2010 when it assigned a modest sovereign rating of AA to the US, below the AA+ rating that it assigned to its own sovereign country China. This was Dagong’s first foray into sovereign debt ratings. At the time, all of the ‘big three’ western rating agencies – Standard & Poor’s, Fitch and Moody’s – maintained the coveted AAA rating for the country (Standard & Poor’s has since downgrade the US to AA+)

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