Moody's Investors Service is taking a 49% stake in China Chengxin International Credit Rating, buying into increasing demand for rating services, the South China Morning Post reported. The international ratings agency will purchase the shares from China Chengxin Credit Management and an affiliated entity, as long as regulatory approval is granted. ?This joint venture will allow us to address the growing demand for credit analysis, ratings, research and training in China,? Chester Murray, an executive vice-president of Moody's international business, said in a company release. Moody's can currently rate Chinese firms for offshore capital market transactions but not domestic offerings.
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