Upstart credit firm challenges status quo

Dagong part of effort to achieve 'fairer' ratings, especially in Asia

Global ratings agency Universal Credit Rating Group launched its international advisory council with some high-profile names on Monday, aiming to establish what it said would be a fairer credit rating system to challenge the status quo.

Marking its first anniversary, the Hong Kong-based UCRG announced its advisory council, which is chaired by Dominique de Villepin, former French prime minister, and with members including Kevin Rudd, former Australian PM, Shaukat Aziz, former Pakistani PM, and Igor Ivanov, former Russian foreign minister.