Best rating agency for ABS/MBS 2020

China Chengxin International Credit Rating (CCXI) dominated ABS ratings during the awards period with a market share of more than 55%, well ahead of its closest competitor, which had a 27% share.

Under the watch of Yan Yan, chairman and president, the rating agency has grown and now has about 100 analysts. It has also claimed almost every landmark deal in recent years, including the first NPL securitization deal with CRMW, the first intellectual property financial leasing ABN and two out of the five trial ABCP transactions.

But what truly separates CCXI from its peers is its deep understanding of trends and key players in the Chinese securitization market. This is especially important given the well-known rating inflation problem in the onshore capital markets. CCXI has also demonstrated a clear advantage in terms of understanding the levers, trends and impacts of new regulations.

When Covid-19 first hit China, CCXI published numerous high-quality research reports on the impact of the pandemic on China’s credit ABS industry.