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China Rating Agency Pauses Ratings, Sparks 494bn Yuan Downgrades

6/30/2026

Summary

Story summary

China Chengxin Credit Rating Co (CCXI) adopted a mechanism to pause rating services when it lacks information, lasting up to three months before ending if obstacles remain.
By June 26 CCXI logged 28 downgrades versus nine in 2025, with 220 issuers having stopped seeking ratings.
China Securities Co warned that 494.6 billion yuan of bonds could be downgraded, noting that Fuanda Fund Management’s Zheng Lianghai said the suspension eases downgrade pressure.

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Story summary

China Chengxin Credit Rating Co (CCXI) adopted a mechanism to pause rating services when it lacks information, lasting up to three months before ending if obstacles remain.
By June 26 CCXI logged 28 downgrades versus nine in 2025, with 220 issuers having stopped seeking ratings.
China Securities Co warned that 494.6 billion yuan of bonds could be downgraded, noting that Fuanda Fund Management’s Zheng Lianghai said the suspension eases downgrade pressure.