Chinese non-listed financial groups target overseas ratings

Companies such as China Orient Asset Management and Bank of Shanghai are looking for credit ratings from global rating agencies, in an effort to convince investors of their credibility during offshore fundraisings.

Chinese non-listed financial groups target overseas ratings
Fitch and Standard & Poor’s on Friday assigned COAM A- and BBB+/A-2, respectively, with a stable outlook.

If you want to sell something, it helps if you have a shop window. 

Beijing-based financial company China Orient Asset Management COAM has gained its first issuer credit ratings from global rating agencies.

Although China’s policy banks and large commercial banks have sought credit ratings from global agencies before, it is rare for non-listed financial firms.

However, the move by COAM, say analysts, could be a common...

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