Fitch and Chengxin part company in China

A small market and control issues lead to a consensual break-up.

Fitch Ratings has officially announced the end of its relationship to China Chengxin International Credit Rating.

In fact, the two companies abandoned co-operation more than a year ago, but regulatory approval from the reliably tardy Chinese authorities has only just come through.

Under the terms of the transaction, Fitch sold its 30% stake back to the parent company of the ratings agency. The re-sale price was less than $1 million, enabling Fitch...

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