两协会公布2025年度信用评级机构联合市场化评价结果

Core Insights - The China Interbank Market Dealers Association and the China Securities Association jointly released the market-oriented evaluation results for credit rating agencies for the year 2025, aimed at promoting healthy competition in the industry and enhancing the quality of ratings, internal control levels, and service capabilities [1] Group 1: Evaluation Results - The evaluation focuses on compliance, internal control, professional quality, and service capabilities of participating agencies for the year 2024, excluding the creditworthiness and business qualifications of the institutions [1] - Among the 13 agencies using the issuer-paid model, the top 80% were classified as Category II, while the bottom 20% were classified as Category III [1] Group 2: Category II Institutions - A total of 10 institutions were classified as Category II, ranked by score as follows: China Chengxin International, Dongfang Jincheng, United Ratings, Fitch Bohua, Zhongzheng Pengyuan, Moody's Credit (China), Anrong Credit, Antai Credit, Dagong Global Credit Rating, and Dapxin Credit [1] Group 3: Category III Institutions - Three institutions were classified as Category III, listed as: Far East Credit, Shanghai New Century, and Beijing Koala Credit [1] Group 4: Future Directions - The two associations indicated that they will further improve the evaluation system under the guidance of regulatory authorities, continuously guiding rating agencies to enhance governance levels and rating quality, contributing to the high-quality development of the bond market [1]