04:02 GMT +310 December 2019
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    Employees of Dagong Global Credit Rating Co. work at the company's office in Beijing, China

    Chinese Rating Agency Dagong Mulls Establishment of Russian Subsidiary

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    A China-based credit rating agency, Dagong, is considering possible Russian market entry, a news outlet reported Thursday, citing market players and sources close to the Russian Central Bank.

    MOSCOW (Sputnik) — According to Russia’s Vedomosti newspaper, Dagong initially considered possible purchase of a share in almost all Russian rating agencies, including the largest Moscow-based international rating agency Expert RA. Dagong was not satisfied with Russian agencies' structure and finally decided to establish a subsidiary company in the country.

    Dagong representatives visited Russia and discussed their plans with the Russian Central Bank, without telling about specific decisions, a newspaper's source said.

    All ratings of the Dagong agency established in 1994 are recognized by the Chinese authorities. Russia itself, as well as its gas giant Gazprom, oil company Gazprom Neft, Gazprombank and the leading steel producer Metalloinvest have their Dagong credit ratings.


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