What Russian and China basically did was create new rating agencies to give each other legitimacy. Here we now have the end result. As the U.S. suicidally declines, look for these to gain traction.
MOSCOW, February 2 (Sputnik) — Gazprom’s AAA investment rating with Chinese rating agency Dagong will help reduce the costs of obtaining Chinese loans, which in turn will help to ensure the completion of the energy companies’ projects with China, BCS financial analyst Kirill Tachennikov told Sputnik on Monday. Continue reading