On October 24 , Guo Guangchang’s Fosun International announced that it was terminating its business rating partnership with Moody’s and would no longer provide information to Moody’s ratings as of that date.
Moody’s is one of the three well-known credit rating agencies in the United States. Its ratings of commercial institutions affect the company’s stock price and provide investors with some advice. On September 30, Guo’s Fosun International was included in the downgrade watch list from “B1” in the latest Moody’s rating report. In addition, Moody’s also issued its subsidiary Fortune Star (BVI) Limited and issued it by Fosun. The B1 rating of the backed senior unsecured bonds, which are unconditionally and irrevocably guaranteed, is placed on watch for downgrade. At the same time, Moody’s revised its rating outlook from negative to rating watch.
Guo’s company is a white glove company of the Chinese Communist Party(CCP), and its stock price manipulation relies on his mouth, as well as his connections in the CCP’s regulatory circle. After he was investigated by Beijing’s State-owned Assets Supervision and Administration Commission and reported by Bloomberg, Guo threatened to initiate legal action against Bloomberg, and now he has terminated his cooperation with the professional rating company.