Chinanews.com, Beijing, August 13 (Reporter Chen Kangliang) On the 13th, statistics from the China Association of Financial Market Institutional Investors and the Securities Association of China showed that in the second quarter of this year, 10 rating agencies in China’s bond market contracted 3978 bond products, an increase from the previous quarter. 41.67%, involving 2,388 issuers; 3,843 debts issued rating reports, involving 1,864 issuers. In terms of the number of contracted bond products, China Chengxin International still accounted for the highest proportion, at 35.72%, a decrease of 2.71 percentage points from the previous month.
In addition, three new defaulting companies were added in the second quarter, involving three rating agencies. In terms of different markets, there is one company for corporate bonds and two for debt financing instruments.
From the perspective of the timeliness of the follow-up ratings, the ratings of the three issuers were all adjusted negatively in the six months before the default. From the perspective of the level of change, China Chengxin International will downgrade Yihua Enterprise (Group) Co., Ltd. by 15 sub-levels in two phases, and Beijing Sound Environmental Engineering Co., Ltd. downgraded by three sub-levels at one time; Lianhe Credit and Lianhe Rating respectively reduce Zhongrong Xinda Group Co., Ltd. downgraded 10 sub-levels in two times. (Finish)