Industry chiefs call for Asian credit rating agency; 'big three' too ‘US-centric’
Senior industry figures in Asia, including outgoing SFC chief Martin Wheatley, say Asia needs an internationally recognised ratings agency to compete with Fitch, Moody’s and Standard & Poor’s.
Martin Wheatley, the outgoing chief executive of the Securities and Futures Commission (SFC), supports many industry participants in the Asia-Pacific region in believing that Asia needs to have its own internationally recognised rating agency to compete with Moody's Investors Service and Standard & Poor's of the US and Paris-controlled Fitch Ratings.
"It would be great if Asia, China or Hong Kong had its own internationally recognised rating agency," says Wheatley. "They take time to develop and
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