Universal Credit Rating Group
Universal Credit Rating Group (UCRG) (Chinese: 世界信用評級集團) is a credit ratings agency based in Hong Kong. Plans to create UCRG were announced in October 2012,[1] and it was officially founded in Hong Kong in June 2013,[2][3] as a partnership between Dagong Global Credit, Egan-Jones Ratings, and RusRating. It claims to be the only international credit rating agency based in the Asia Pacific area.[4] Its creation is supported by the governments of Russia and China, due to a belief that the "Big Three" US-based ratings agencies (Moody's, Standard & Poor's and Fitch Ratings), which control 95% of the world ratings market, have been too often used for political means by being overly generous to US and EU-based clients while being biased against developing or emerging economies.[5]
Advisory Council
On 23 June 2014, UCRG announced its 2015-20 operating plan along with the formation of an advisory council to the group chaired by former French Prime Minister Dominique de Villepin. The other initial members are former Australian Prime Minister Kevin Rudd, former Pakistan Prime Minister Shaukat Aziz and former Russian Foreign Minister Igor Ivanov [6][7]
References
- ↑ "Universal Credit Rating Group will be officially founded". Dagong Global. Retrieved 25 June 2014.
- ↑ "New credit rating agency to challenge Big 3 firms". Yahoo Finance. Retrieved 25 June 2014.
- ↑ 加拿大和美国人士看好世界信用评级集团 [Canadian and American Specialists Optimistic about UCRG] (in Chinese). Phoenix Television. 1 July 2013. Retrieved 26 July 2014.
- ↑ "About UCRG". UCRG. Retrieved 25 June 2014.
- ↑ Engdahl, F. William. Russia and China: Watch Out Moody’s, Here We Come!. New Eastern Outlook. Jan. 22, 2015.
- ↑ 世界信用评级集团国际顾问理事会宣告成立 [Advisory Council for Universal Credit Rating Group Established] (in Chinese). Xinhua News Agency. 25 June 2014. Retrieved 26 June 2014.
- ↑ 世界信用评级集团国际顾问理事会在京成立 [Universal Credit Group Advisory Council Established in Beijing] (in Chinese). China National Radio. 24 June 2014. Retrieved 26 June 2014.