A new international rating agency Universal Credit Rating Group, established companies from Russia, China and the United States, began its work today, reports AP. The organization will compete with the top three leading rating agencies — Moody’s, Standard & Poor’s and Fitch, which has repeatedly been criticized for bias when placing ratings and involvement in the global financial crisis.
The new structure of Universal Credit Rating Group was founded three companies: Chinese Dagong, American Egan-Jones Ratings and Russian "Rus-Rating". The parties have equal shares in the company, the initial investment amount is $ 9 million office is located in Hong Kong.
"Credit ratings are necessary for the world economy, and it is obvious that at the present time, the system needs reform and the introduction of new approaches," — said the head of Universal Credit Rating Group Guan Dzendzhung.
Chinese rating agency Dagong Global Credit Rating has announced a joint venture with a Russian "Rus-Rating" and the American Egan-Jones Ratings in October 2012. It was noted that the joint venture will be "completely independent service the rankings," and will approach this as impartially.
Recall that in July 2012. it became known that the U.S. Department of Justice and the Securities and Exchange (SEC) launched an investigation against S & P, accusing him of violating the law when assigning ratings. In turn, the company McGraw-Hill Companies Inc., Which owns S & P, said that these allegations are baseless, and the company intends to "resolutely and vigorously" defend the legality of the activities under its control, the rating agency.