1. Financial institution rating business
Rating banking and non-banking financial institutions and their bonds with relevant financial licenses, such as commercial banks, securities companies, insurance companies, trust companies, enterprise group finance companies, financial leasing companies, auto finance companies and consumer finance companies. Other enterprises that do not hold financial licenses but mainly engage in financial services, including financial leasing companies, financing guarantee companies, small loan companies, financial holding companies, local asset management companies and other enterprises supervised by the Ministry of Commerce, are all rated. Through the comprehensive analysis of macro-economy and policy, industry environment, enterprise management and strategy, operating status, risk management and financial status, the credit rating of the subject and debt is evaluated, which provides investors with the basis for securities selection and pricing.
2. Non-financial institution rating industry
Rating non-financial institutions such as industrial and commercial enterprises, public utilities, urban infrastructure construction companies and their bonds. Rating bonds include but are not limited to short-term financing bonds, medium-term notes, non-public debt financing instruments, corporate bonds, corporate bonds, exchangeable bonds, private debt of small and medium-sized enterprises and other non-structural debt financing instruments.
3. Local government rating business
Credit rating of local government entities such as provinces, autonomous regions and municipalities directly under the Central Government (including cities with separate plans approved by the provincial government to issue bonds) and the debts issued by them. The credit rating of local governments is mainly to analyze and judge the default risk of general unsecured debts of local governments in the future; The credit rating of local government debt is based on the credit analysis of local government subjects, and analyzes the credit rating of specific debts issued by local governments.
4. Structured financing rating business
For enterprises with high-quality stock assets, the aim is to break through the limitations of their own main credit and traditional financing methods, and try structured financing for credit rating on the premise that assets meet regulatory requirements and future cash flow is stable and predictable, so as to provide investors with the basis for securities selection and pricing. Structured financing products refer to securities products issued by enterprises through risk isolation, cash flow reorganization and credit enhancement, which divest assets that lack liquidity but have predictable future cash flow, and use the cash flow generated by specific assets as the repayment basis. Including but not limited to corporate loan asset-backed securities (CLO), non-performing loan-backed securities (NPLS), personal mortgage-backed securities (RMBS), commercial real estate mortgage-backed securities (CMBS), personal automobile (mortgage) loan-backed securities (ABS), financing lease debt asset-backed securities, personal consumption loan-backed securities, asset-backed special plans, non-financial enterprise asset-backed bills and other credit asset-backed securities (. Dongfang Jincheng comprehensively analyzes its transaction structure, credit quality of basic assets and performance ability of participating institutions, and evaluates the credit rating of the appraised object.
5. Sovereign rating business
Provide sovereign rating and national credit risk assessment services for enterprises such as institutional investors who invest in government bonds of specific countries, investors who invest in industries of specific countries, and operators who trade goods and services with specific countries. Sovereign rating comprehensively evaluates the ability and willingness of the government of a specific country or region to repay its direct commercial and financial debts according to the contract in the next 3-5 years, and uses credit rating symbols to relatively rank the credit risk of the evaluated subjects. On the basis of sovereign credit risk assessment, national risk assessment comprehensively evaluates a country's macro-policy, economic operation and transfer exchange risk from the customer's needs.
6. Cross-border bond business
Credit rating of overseas sovereign governments, multilateral institutions, overseas industrial and commercial enterprises and financial institutions with RMB financing needs, Chinese-funded enterprises registered overseas and their issued debts. To provide cross-border bond market credit risk research for China enterprises with overseas financing needs and overseas investors interested in the domestic bond market, help domestic issuers explore opportunities in international bond markets, and promote international investors to understand the China bond market.