China Ratings Startup Challenges System Where Even AAAs Default.

Though not exactly a household name, Shenzhen-based Ratingdog has slowly been carving out a name for itself within China's corporate-bond community by flagging risks well before defaults occur. The new rules also encourage unsolicited ratings from agencies and investor-paid services, which is Ratingdog's business model. (Bloomberg) -- A spate of defaults by Chinese borrowers with seemingly impeccable onshore ratings has left antsy investors in the world's second-largest credit market craving credible research to distinguish good debt from bad. [Extracted from the article]