Shanghai Pudong City | Leading Financial Centre in Asia

Caproasia.com | The leading source of data, research, information & resource for financial professionals, institutional investors, professional investors and private investors (UHNWs, & HNWs). Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?

This site is for accredited investors, professional investors and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.


China Credit Rating Agency Dagong Global to Pay 10% of Claims by Bondholders

8th January 2021 | Hong Kong

One of China’s largest credit agency, Dagong Global Credit Rating, has been ruled by a Chinese court to repay up to a 10% (limit) of defaulted bonds with value of at least $76.2 million (CNY 494 million) to more than 400 bondholders of China construction company, Wuyang Construction Group.  The ruling by Hangzhou Intermediate People’s Court, cited the credit rating agency (Dagong), legal representative, underwriter (Tebon Securities), an accounting firm and a legal firm, to be collectively responsible for falsifying information to win regulatory approval.

” China credit agency to pay10% of claims by bondholders “

 

Wuyang Bond Defaults, Dagong Global Credit Rating Suspended

In 2017, Wuyang Construction had defaulted on 2 bonds totalling $220 million (CNY 1.4 billion).  Thereafter, Chinese regulators alleged that financial documents had been falsified by the company to win regulatory approval.  In 2018, Chinese regulators had banned Dagong Global from rating bonds for a year for providing false information and charging high fees for consulting services.

 

Largest Credit Agencies in China

Dagong Global Credit Rating is one of the largest credit agency in China alongside China Chengxin International Credit Rating and Golden Credit Rating International.  Globally, the 3 largest credit rating agencies are S&P Global Ratings, Moody’s and Fitch Group.

 

Caproasia Platforms:

Caproasia Events & Coverage:



Caproasia.com | The leading financial website for financial professionals, professional investors and HNW investors. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Quicklinks: Caproasia Access | TFC | Caproasia | Jobs








Join 14,000+ leading financial professionals and professional investors in Asia. Stay ahead of your peers & competition. Receive Caproasia newsletter here.
Managing $20 million to $3 billion? Register here: Financial Professionals
.
Visit Access | Daily homepage for financial professionals & professional investors.

Register: Professional Investors | CEOs & Entrepreneurs


For press release, email to press@caproasia.com
For editorial, media kit, listing on TFC, events, seminars or research & data services, email to mail@caproasia.com