An initiator of the international credit rating system reform
China supports the development of a new international credit rating system that is objective, just, rational and balanced, Chinese Vice Premier Zhang Gaoli said here on Monday.
The UCRG International Advisory Council Launched - Endeavoring to Promote the Construction of International Dual Rating System
The Universal Credit Rating Group (UCRG) announced the founding of its International Advisory Council (IAC) on June 23 in Beijing and releasedAction Manifesto of UCRG International Advisory Council (2015-2020).
Universal Credit Rating Group (UCRG) is a new type multi-lateral international credit rating agency,embodying the common interest of humanity.
reform the existing international credit rating system and establish a new international credit rating system that represents the common interest of mankind and undertake the responsibility of assigning ratings to entities across the world.
It is against this backdrop Universal Credit Rating Group (UCRG) was founded.
UCRG is a new type of multi-lateral international credit rating agency aimed at being sponsored by representative agencies from every jurisdiction.
UCRG's purpose is to promote the establishment of a new type of international credit rating system providing an alternative rating for the pervasiveness of credit relationships while the current international rating system with sovereign-owned characteristics is running, so that a new rating architecture featuring co-existence of two rating systems, openness, inclusiveness, inter-complementary and counter-balancing will be created.
Universal Credit Rating Group
UCRG is a new type of multi-lateral international credit rating agency aimed at being sponsored by representative agencies from every jurisdiction. .
The global credit crisis has highlighted the importance of credit ratings on human society, and has demonstrated that flaws in the current international credit rating system jeopardize human prosperity and development. The current system will no longer meet the credit rating needs of the world.>
Dual rating system is the business model of UCRG. This unique model will be put into practice by the approach that governments of the jurisdictions where UCRG operates grant UCRG a license to conduct credit rating business in the local rating markets, for UCRG represents the common interests of mankind.>