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Business 15 Feb 2014 | 7:13 AM

Local rating agencies angle for spot on global stage

SINGAPORE: New rating agencies in Asia are hoping to launch themselves on the global stage thanks to a little known rule change by a European regulator made several years ago.Arc Ratings, based in Malaysia, was formed in late January when Malaysian Rating Corp (Marc), along with Care Ratings from India, Global Credit Ratings from South Africa and SR Rating Group from Brazil, bought Sociedade de Avaliaçمo Estratégica e Risco from Portugal.