The strategic cooperationinformation disclosure of listed companies has gradually become the focus of government regulatory departments. The analysis of the impact of cooperation information disclosure on the credit risk of listed companies is a realistic problem that the academic needs to solve because credit is the foundation of Corporate Finance and Finance Market. Based on the strategic cooperation agreement announcement data of a-share listed companies, this paper uses text analysis method to analysis the credit risk effect of strategic cooperation information disclosure. The results show that : the quality of strategic cooperation information disclosure has a significantly negative correlation with the credit risk of listed companies, namely, the higher the quality of information disclosure is, the lower the credit risk is. Moreover, the impact on companies of different ownerships is heterogeneous. The higher the quality of strategic cooperation information disclosure of private enterprises is, the more credit risk can be reduced, but such effect on state-owned enterprises is not significant. The research of this paper provides empirical evidence for listed companies to improve the quality of strategic cooperation information disclosure and reduce credit risk and provides relevant policy reference for listed private companies to reduce financing costs and improve business performance.