Agency defends giving railway ministry rating

Sufficient cash flow and 'strong' ability to repay reasons for AAA

BEIJING - Rating agency Dagong Global Credit Rating Co defended the AAA rating it gave the Ministry of Railways on Saturday, despite severe public criticism of the ministry following a fatal train crash last month.

The ministry received the long-term rating after launching its first bond sales on Monday since the crash on July 23 that killed 40 people near Wenzhou city in East China's Zhejiang province.