Global rating agencies are preparing for a major push into China, while cautioning that their progress is likely to be gradual as they grapple with some of the nuances of operating in the world's largest bond market. Earlier this year, s&p became the first among the big three to receive approval to begin rating bonds in China's interbank bond market. moody's and fitch have also applied and are awaiting final sign-off. Moody's has since been linked with a deal to increase its minority stake in its joint venture with China Chengxin Credit Ratings Group.
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