China Cheng Xin Credit Management Co. sold a 49% equity stake in China Cheng Xin International Credit Rating Co. (CCXI) to Moody’s Investors Service.  The value of the transactions was not disclosed.  Moody’s intends to increase its equity holding if permitted.  CCXI and Moody’s plan to market joint ratings to global issuers in the local Chinese markets. CCXI will continue to provide Chinese domestic ratings.  CCXI will also benefit from Moody’s immense know how.

BIIA Newsletter April – 2006 Issue