If you hate ratings companies ("Aren't these the guys that ...") you might wanna stop reading now
For those still with me, this is an interesting piece, shedding light on the non-global ratings agencies proliferating in China as demand for their services soars
- There have been at 17 corporate note defaults this year (so far)
- (compared with 7 in 2015)
- Dagong Global Credit Rating Co., Shanghai Brilliance Credit Rating & Investors Service Co., China Chengxin International Credit Rating Co. and China Lianhe Credit Rating Co. have cut a record 88 bond issuer ratings in the first half of this year
More at Bloomberg
Forget exports, this is the new China growth industry :-D