Dagong Global Credit Rating is a Chinese credit rating agency headquartered in Beijing, founded in 1994 with approval from the People's Bank of China and the State Economic and Trade Division, that rates corporate bonds, bills and other financial instruments. It expanded internationally in 2013 through Dagong Europe, which received authorization from European regulators, but was suspended from operating in 2018 following accusations of corruption and doctored ratings issued in exchange for fees, was nationalized in 2019 when China Reform Holdings Corporation acquired a 58 percent stake, and faced further regulatory sanctions between 2020 and 2023 including fines and rectification orders over deficient rating practices.
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1. Dagong Global Credit Rating (Wikipedia)
WikipediaLead section / HistoryQuote, Lead section / History
The company was established in 1994, following approval by the People's Bank of China and the State Economic and Trade Division of the People's Republic of China.
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