|
|
|
Credit raters of Korea, Japan, China to build shared rating system
SEOUL, Oct. 21 (Yonhap) -- A South Korean corporate credit appraiser said Wednesday it has agreed with two credit raters from China and Japan to launch a regional credit rating system in a bid to better appraise Asian companies and bonds.
Nice Investors Services Co. made the resolution in a forum with Japanese credit rater Ratings & Investment Information Inc. and Chinese firm Dagong Global Credit Ratings Co., the local firm said.
The effort to build a shared credit rating standard in the region came as the current rating system, dominated by few global rating firms like Moody's and Standard & Poor's, fails to reflect conditions specific to the Northeastern nations, according to the local credit rating company.
"A trustworthy credit rating system is a prerequisite for the development of the Asian bond market," an official of Nice Investors Services said at the forum, pointing out the lack of a shared standard to independently evaluate and compare bonds that are issued in local currencies of the three countries.
pbr@yna.co.kr
(END)
|
| |
|
|
Home
