Dagong to create new ratings agency with Russian and US partners

Guan Jianzhong, boss of Dagong Global Credit Rating, has plans to shake up the sector. Photo: KY Cheng

Already under fire for their role in the subprime crisis, Fitch, Moody's and Standard & Poor's (S&P) are now in the sights of Dagong Global Credit Rating, which has formed a joint-venture agency with Russian and US partners.

Wednesday, 26 June, 2013, 4:08am

'Modest default risk' in property price slump

The ability of home-buyers to repay would be stable even if property prices dropped, given the low interest rates. Photo: AFP

The recent spate of rises in mortgage lending rates would improve banks' profit margins but they also reflected higher risks for the home-loan business, said Fitch's head of Hong Kong financial institutions Sabine Bauer. But the ability of homebuyers to repay would be stable even if property prices dropped, given the low interest rates.

22 Mar 2013 - 4:19am

New on the block: Abercrombie & Fitch

New on the block: Abercrombie & Fitch

There was no escaping the six packs and sculpted abs, or that distinctive scent, at the launch of Abercrombie & Fitch's Central store.

2 Sep 2012 - 5:32pm

Fitch takes a dimmer view of Hongkong Bank

Credit rating agency Fitch has revised its view of Hongkong Bank to 'negative' from 'stable' yesterday, but retained the bank's long-term default rating.

This comes a day after Fitch revised its view of the bank's parent HSBC to 'negative'.

3 Mar 2012 - 12:00am

HK banks' mainland exposure may not be as risky as feared

Ratings agency Fitch warned yesterday that it could downgrade the credit standing of Hong Kong's banks because of their fast-growing exposure to the mainland.

Fitch is not the only one that's nervous. In April, the Hong Kong Monetary Authority called the city's banks sharply to heel over the speed at which they were extending new loans to mainland companies.

25 Oct 2011 - 12:00am

Take it back

Retro is all the rage this season. If you're looking for a designer piece from a previous collection, you might find it at Seibu's new Vintage Paradise corner. It provides a range of reproduced older collections along with some reworked vintage items that are ripped and torn.

4 Jun 2006 - 12:00am

street cred

Tricia Chan, 15, likes comfortable clothes. Her favourite brands are Zara, Mango and Roxy. Flip-flops are her summer fashion staple.

T-shirt $175 from Zara

Bag $200 from an outlet in Stanley Market

Earrings $30 from a boutique in Causeway Bay

Denim skirt from Abercrombie & Fitch, gift from family

Flip-flops $250 from Roxy

14 May 2006 - 12:00am

Out & About

Maddi Parker, 15, says she's into vintage clothing. She hunts for wacky but cheap items in the lanes in Central and Jardine's Bazaar. Zara is her top choice for upmarket clothes.

Black top $100 from Zara

Necklace $20 from Stanley Market

Bracelet $20 from Jardine's Bazaar

Jeans bought in France for Euro21 ($200)

7 Aug 2005 - 12:00am

Rating revision lifts US$1.5b bond plan

Fitch switches from stable to positive on China A-minus foreign currency outlook

Credit ratings agency Fitch yesterday revised China's A-minus long-term foreign currency rating outlook from stable to positive, giving a boost to the central government's plan to issue US$1.5 billion in bonds.

14 Oct 2003 - 12:00am

SHKP fires back at Fitch profit and credit assessments

Sun Hung Kai Properties (SHKP) has hit back at a weak credit assessment by Fitch Ratings, which cited a bleak outlook for Hong Kong commercial rents and shrunken profit margins from the firm's core residential development business.

22 Jul 2003 - 12:00am

Thomson recognition void

The Hong Kong Monetary Authority has revoked the recognition of Thomson BankWatch as a recognised agency to rate bonds qualified to benefit from the profits tax concession scheme. The revocation followed the takeover of Thomson BankWatch by Fitch, which has received a recognised agency rating. All former Thomson BankWatch ratings have been superseded by Fitch ratings.

11 Dec 2001 - 12:00am