OTP Bank mandated Dagong Global for global scale credit ratings

发布时间:2017-12-05 16:17:58    点击:

Dagong Global (Dagong) has assigned a first-time rating to OTP Bank Plc (OTP), with a long-term rating of BBB+ and a stable outlook.  OTP is a universal banking group in Central and Eastern Europe with systematic importance, providing financial solutions to nearly 14.5 million customers through almost 1,400 branches, agent networks and the electronic channels in 9 countries.  It opened its first representative office in Beijing on 21 July 2017. 
 
The OTP mandate is a key milestone in Dagong’s development of FI coverage along the Belt and Road, joined by NRW Bank, Unipol, NovoBanco, BP Sondrio in Western Europe, Gazprombank, IIB in Russia, and CIMB, ABA, Al Baraka Bank in Asia.
 
Andrew Wu, General Manager of Dagong in Europe, comments, “OTP operates in key Belt and Road countries on the European side. The OTP rating demonstrates Dagong two-pillar value proposition to European market, a different perspective, and a strong link to China. As China outbound investment and the Belt and Road Initiative develop further, Dagong is in a unique position to connect issuers and investors from both directions.”
 
Notes to Editors: 
 
Founded in 1994, private owned and independently run, Dagong Global Credit Rating Group (“Dagong Global, or Dagong”) is a global credit information service group. It maintains the largest rating coverage on sovereign among all Chinese CRAs, and the largest rating coverage on international issuers outside China. As the founding member of Dagong, Dagong Global Credit Rating Co., Ltd (“Dagong Credit”) is a leading credit rating agency based in China. It operates through 4 regional head offices and 32 branches across the country, with over 1,000 employees including more than 600 analysts. Dagong Credit is licensed to rate all debt categories in all markets in China, and has rated over 10,000 issuers across more than 70 sectors, with over 10 trillion RMB bond financing raised.  
 
Dagong is the only credit rating agency originated from Asia with established operations in Europe. Dagong Europe Credit Rating srl, was established in 2012 with offices in Milan and Frankfurt am Main. It received authorisation from the European Securities Market Authority as Credit Rating Agency (CRA), and is also recognised by the Joint Committee of the three European Supervisory Authorities (ESA) as External Credit Assessment Institutions (ECAI).