Global rating agencies have assigned the above long-term foreign currency ratings for the People's Republic of China (PRC). Home pages of these rating agencies are linked below. There are four major credit rating agencies in China: (i) China Chengxin International Credit Rating Co., Ltd. (a joint-venture with Fitch Ratings and the International Finance Corporation [IFC]); (ii) China Lianhe Credit Rating Co. Ltd.; (iii) Dagong Global Credit Rating Co., Ltd. (in partnership with Moody's); and (iv) Shanghai Far East Credit Rating Co., Ltd.

These agencies use similar rating criteria as major international credit rating agencies, such as Fitch, Moody’s, and Standard & Poor’s. A link to a compilation of the basic profiles of selected domestic credit rating agencies in the PRC is provided below.

Rating Definitions

Rating definitions vary from agency to agency, and are provided through the links below.

Methodology

Rating selection involves information gathering, analysis, and monitoring of the financial health of an issuing entity. The rating methodologies and procedures of various rating agencies can be accessed through the links below. Dagong Global Credit Rating Co., Ltd. developed its rating methodology in consultation with Moody's Investor Services. The websites linked below provides a full set of methodologies for different industries. China Chengxin International Credit Rating Company developed its rating methodology through a joint venture with partner Fitch. The information is not currently available in English.

Company Ratings

Dagong Global Credit Rating Co. Ltd. and Shanghai Far East Credit Rating Corp. Ltd. provide lists of company and issue ratings at the websites linked below.