As expected, Banco Espirito Santo, one of the biggest Portuguese banks and the one who retaliated Fitch rate cut a few months ago, has started contacts to be rated by Dagong, the biggest Chinese rating agency. Not a surprising move in my opinion, given the latest moves by the American rating agencies - it is actually better to also diversify the portfolio of rating agencies to spread out biased evaluation risks...
P.S- And I have written something similar relating to the European financial sector - it is a few posts below...
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