Dagong Global Credit Rating, a Chinese credit ratings agency, rated the Chinese government as a safer investment than the US, the UK and Japan, Bloomberg reported. The firm rated both Chinese and German sovereign debt AA+ with a stable outlook, while the US was given AA with a negative outlook, and Japan was awarded AA-. The firm acknowledged that its ratings of 27 countries’ sovereign debt was "markedly" different that that of stalwart firms Moody’s, S&P, and Fitch. Company representatives said that "[m]ore Chinese companies may offer sovereign ratings, but it’s hard for them to get accepted by foreign investors." The firm did not provide details of its ratings methodology.
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