Summary of Proposed Investment
Project Number
8328
Company Name
Chengxin International Credit Ratings Limited
Date SPI Disclosed
Oct 22, 1997
Country
China
Industry
Financial Markets
Status
Completed
Sector
Credit Information Services
Department
Regional Industry - FIG Asia & Pac
Environmental Category
C - No Impact
Previous Events
Approved : Dec 30, 1997
Signed : Sep 11, 1998
Invested : Dec 27, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | China - China Chengxin International Credit Ratings Co. |
| Region | Asia |
| Sector |
Projected Board DateNovember 7, 1997
Company NameChina Chengxin International Credit Ratings Co.
Technical Partner and/or Major Shareholders
Fitch-IBCA: An international credit rating agency created by a merger of Fitch Investors Services, L.P. of United States of America, and Inter-Bank Credit Analysis of London; China Chengxin Securities Rating Co. of China, a national securities rating agency; China Securities Daily of China.
Project Cost Including proposed IFC investment
RMB 20 million (US$2.41 million equivalent), including an IFC equity investment of approximately US$360,000.
Location of project and Description of site
Beijing, Capital City of the People’s Republic of China
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
The project involves the establishment of the joint venture first credit rating institution in China to provide credit rating services in accordance with international norms. The venture, to be called China Chengxin International Credit Ratings Limited, will assist in the development of local debt markets through the provision of independent and professional risk assessment of corporate debt (both publicly issued and privately placed). IFC has helped to initiated the project concept, focus and structure, keeping in mind the requirements of the parties (see attachments); introduced foreign party -- IBCA and local party -- Chengxin to each other, and solidify the government support.
Environmental Category and Issues
This is a category “C” project according to IFC environmental review procedure. No further review is required.
| Date SPI sent to PIC Revised | October 22, 1997 October 23, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Revised on 10/23/97 to reflect correct project no. i.e. 8328 instead of 4750.
Sponsor / Cost / Location
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