Chinese Dagong Global, Amercian Egan-Jones and Russian RusRating are going to announce in Beijing creation of new credit agency Universal Credit Rating Group (UCRG) with ambitions to become a global player, Cbonds reports citing Bloomberg. In a press release of Dagong, current rating system is criticised as unable to produce reliable ratings. RusRating and Egan-Jones (established in 2001 and 1995, respectively), position itself as fundamentally different from the methods of the Fitch, Moody's and S&P's in that they are funded by consumers of investment information and not the issuing companies. |
As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more
Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more
Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more