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Shanxi Yuncheng Rural Commercial Bank drops credit rating agency

Shanxi Yuncheng Rural Commercial Bank Co. Ltd. dropped its credit rating agency as its overall plan and business development needs have changed.

China Chengxin International Credit Rating Co. Ltd. began working with the lender in 2017 when it issued Tier 2 bonds.

Effective the same day, there is no longer a need for the agency to follow up on the issuance, the bank said.