The European branch of Chinese rating agency Dagong is reportedly seeking control of 5 percent of the market by 2018. As it undergoes an authorization process with the European Securities and Markets Authority, the new agency has announced its plans as a way “to give investors a real choice” for ratings in Europe. The market is currently dominated by Moody’s, Standard & Poor’s and Fitch. Reports say that Europe is looking for new competition in the ratings market after a series of economy downgrades last year.
Full content: Reuters
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