A new international rating agency opens in Hong Kong

A new international independent rating agency "Universal Credit" / Universal Credit Rating Group /, created by companies from China, Russia and the United States, will be operational in Hong Kong from June 25 this year. This was reported today to journalists at a press briefing at the headquarters of the new structure, which is housed in one of the central metropolis of skyscrapers.

New service established three rating agencies: Chinese "Dagong" / Dagong Global Credit Rating /, Russian "Rus-Rating" / RusRating / and the U.S., "Egan-Jones" / Egan-Jones Ratings Company / to increase the objectivity of assessments of the economic processes in the world .

"It has become clear that the current system of assigning credit ratings does not meet the requirements of the modern world. We intend to contribute to the restructuring of the system," — said in an interview with Trend. ITAR-TASS General Director of "Rus-Rating" Hainsworth. He will become executive director of the "Universal Credit".

The new company, he said, intends to actively develop and become one of the key players in the market. Now there is dominated by the "big three" credit rating agencies / "S &P", "Fitch" and "Moody's" / who accused of being biased and not entirely objective assessment of the risks in the face of recent crises.

"We want to create a new concept, which consists in the use of" double ratings. "These ratings will be more reliable and easy to understand," — said the expert. With this new rating service will not represent the interests of any country or group.

According to the executive director, "Universal Credit" will be open for cooperation, including with other rating agencies from different countries. "We also intend to contribute to the development of cooperation between Russian and Chinese banks," — he added.

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