Financial Analytics Company (Rating) signs MoU with Dagong Global Credit Rating for strategic partnership

RATING Financial Analytics Company (hereinafter as “RATING”) Announces Strategic Partnership with China’s Dagong Global Credit Rating Co., Ltd (hereinafter as “Dagong Global”) in Credit Rating Sector.

RATING, the financial analytics company, has signed a strategic partnership agreement with China’s Dagong Global, aiming to strengthen cooperation in providing financial analytics services to international markets and exchanging expertise in credit rating. This collaboration seeks to foster a comprehensive and sustainable investment environment.

The agreement outlines a long-term strategic collaboration in the development of the securities sector, exchange of technical knowledge and regulatory information, and the preparation of specialized research reports and financial investment analyses. The goal is to enhance the quality of credit ratings and support joint entry and cooperation between Saudi and Chinese companies in global markets.

The agreement also includes mutual recognition and validation of credit ratings issued by both parties for entities operating within their respective jurisdictions. This is in accordance with both local and international regulatory requirements. The credit ratings will serve as trusted references in market reports, investor communications, and regulatory filings.

Additionally, the agreement stipulates mechanisms for business exchange and the formation of joint working groups to monitor and develop future projects. It also enforces strict confidentiality clauses regarding information sharing to ensure both parties’ compliance with applicable laws and uphold the highest standards of integrity and transparency.

The collaboration between RATING and Dagong Global will expand the scope of credit rating services regionally and locally. It will meet market demands, build investor and institutional confidence, and pave the way for future partnerships. This aligns with the rapidly evolving global credit rating industry, supporting financial market transparency, attracting investments, and accelerating the growth of the Saudi capital market. By enhancing the effectiveness and caliber of credit evaluations for financial and economic organizations in the Kingdom, this agreement supports transparency and credibility in the financial market and is consistent with Saudi Arabia’s Vision 2030.

This cooperation marks a new era for the credit rating sector in Saudi Arabia, as it boosts the confidence of both local and international investors, enhances market efficiency, and promotes institutional transparency in achieving the Kingdom’s economic growth objectives.

RATING is the independent local credit rating agency in the KSA licensed by the Capital Market Authority (CMA), reflecting its active role in assisting the development of the financial sector in the Kingdom of Saudi Arabia providing third party independent opinion to enhance transparency in the financial market, contribute to the development of the Saudi Capital Market and support the growth in line with Vision 2030.

On the other hand, Dagong Global is one of China’s leading state-owned credit rating agencies, established with the approval of the People’s Bank of China. It plays an important role in China’s financial markets and leads in sovereign, local government, industrial research and ratings. Internationally, Dagong Global is witnessing significant growth, actively participating in the development of the global bond market, especially the Asian bond market.