Chinese credit rating agency Dagong suspended after cash-for-ratings probe
(WorldNews China)

A Chinese credit rating agency has been ordered by Beijing to suspend services in the Chinese market for a year after it was found to have effectively sold good ratings to bond issuers. The uncovering of irregularities at the Beijing-based Dagong Global Credit Rating Co exposed the lack of independent and trustworthy credit ratings in the Chinese bond market – a problem that amplifies the risks for fixed-income product investors. China’s market is currently closed to the big three......