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.
Fitch and Standard & Poor’s on Friday assigned COAM A- and BBB+/A-2, respectively, with a stable outlook.
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 feature in coming months as more non-listed Chinese financial institutions seek ratings before tapping offshore capital markets. Securing such ratings allows foreign investors to better understand the company and increase the chances of the group...

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