Thomson Financial to Form New Rating Agency in South Korea

Thomson Financial announced that it has entered into an Agreement with Daeil Investment Advisory to spearhead the creation of a new rating agency in South Korea. Thomson Financial BankWatch will provide managerial and technical assistance to the new company, which will be called Thomson BankWatch Ratings Korea. Thomson Financial BankWatch will assist the new company with securing the necessary regulatory approval to be a rating agency in Korea. Gregory A. Root, President of Thomson Financial BankWatch, said, ‘In order for South Korea’s financial sector to become internationally competitive, the country must have internationally strong, reliable and reputable credit rating institutions with a specialized knowledge of financial institutions and capable of evaluating a wide range of asset-backed securities, including innovative derivatives. This was one of the major factors that led us to form a strategic alliance with Daeil Investment Advisory to set up a business venture in Korea for credit ratings on financial institutions and asset-backed securities.’

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