Russian companies joining Chinese project to create rating agency network - Shuvalov
MOSCOW. March 26 (Interfax) - Russian companies have joined in with China's effort to create a new system of rating agencies, First Deputy Prime Minister Igor Shuvalov said in the Federation Council on Wednesday.
"The People's Republic of China has begun a project together with several international companies to create a new international network of rating agencies, and Russian companies engaged in the rating business have joined this work," Shuvalov said.
"This will be a completely independent, new system and of course we are interested in having rating agencies that are not under the influence of their governments or political forces, so that when the image or rating of one or another country needs to be lowered, they don't start obeying commands," he said, adding that 2008 "showed just how dangerous the current rating agency system is."