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Ratings would help dim sum liquidity
June 18, 2012
Highly rated corporations continue to issue unrated debt in the dim sum bond market. This is stifling liquidity and will likely ultimately hinder the market’s development.
State backed Chinese corporations continue to issue unrated bonds in the offshore renminbi (RMB) market, a practice that deters certain investor classes and hinders liquidity from improving.
The most recent was Export-Import Bank of China’s Rmb2 billion (US$313.8 million) five-year...
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