Dagong Global Credit Rating
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| Industry | Financial Services |
|---|---|
| Founded | 1994 |
| Headquarters | Beijing, China |
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Key people
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Guan Jianzhong (Chairman) |
| Website | dagongcredit.com |
Dagong Global Credit Rating (Chinese: 大公国际资信评估有限公司; pinyin: Dàgōng Guójì Zīxìn Pínggū Yǒuxiàn Gōngsī) is a credit rating agency based in China.
In standard Mandarin, Dagong is first half of the four-character idiom Dagong wusi (大公无私) which can be translated into English as 'impartial and without prejudice'.
The company was established in 1994, following approval by the People's Bank of China and the State Economic and Trade Division of the People's Republic of China.
In May 2009, an agreement of mutual cooperation was signed with Xinhua news agency, reported as "promiting a national credit rating system".
In June 2013, Dagong Europe Credit Rating was registered and received authorisation from the European Securities and Markets Authority as Credit Rating Agency. In the same year, it was recognised by the Joint Committee of the three European Supervisory Authorities (EBA, ESMA and EIOPA)as External Credit Assessment Institutions operating in the European Union.
In July 2014, Dagong Global Credit Rating (Hong Kong) Co., Limited was granted a Type 10 License (Providing Credit Rating Services) by the Securities and Futures Commission of Hong Kong.
Dagong rates borrowers on a scale from AAA to C. Intermediate ratings are offered at each level between AA and CC (e.g., AA+, AA, and AA-).
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