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Kroll Bond Ratings Is Developing CMBS Surveillance Unit

Kroll Bond Rating Agency is developing a research business to monitor the performance of commercial mortgage-backed securities (CMBS), adding a recurring-revenue stream to its credit-rating division. The service will be funded by investors and provide monthly updates on the debt.  The research, which is expected to become available in June, will provide loan-level commentary and won’t include letter grades.  The ... Read More »

Morningstar Acquires ByAllAccounts Inc.

Morningstar, Inc. (NASDAQ: MORN) has acquired ByAllAccounts, Inc., a provider of innovative data aggregation technology, for financial applications for $28 million, subject to working capital adjustments. ByAllAccounts uses a knowledge-based process, including patented artificial intelligence technology, to collect, consolidate, and enrich financial account data and deliver it to virtually any platform.  The company has built a network of more than ... Read More »

Morningstar Launches Free Investing Website for Investors, Morningstar Rating™ for Funds in Mexico

Morningstar Mexico, a wholly owned subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has launched a new website to bring free investment fund data and tools to Mexican investors. Investors can find the Morningstar Rating for funds in Morningstar Direct™, the company’s web-based global research platform for institutional investors; Morningstar® Essentials™, a web-based toolkit for ... Read More »

Morningstar Announces RMBS Ratings and Analytics, an Investor Focused Surveillance Service for Residential Mortgage-Backed Securities Investors

Morningstar, Inc.’s (NASDAQ: MORN) structured credit ratings business will unveil its residential mortgage-backed securities (RMBS) ratings and surveillance analytics service at the upcoming ABS East conference in Miami Oct. 16 to Oct. 19.  The new service, RMBS Ratings and Analytics, will provide institutional investors with cutting edge analytics, Morningstar’s monthly DealView Credit Analysis, and timely letter ratings on thousands of secondary market RMBS ... Read More »

RATING AGENCIES FACE FURTHER PAIN WITH LANDMARK WALL STREET REFORM BILL

The Senate passed the landmark ‘Wall Street reform bill’ which includes important new requirements and oversight of rating agencies.  The most damaging aspect of the reform bill for rating agencies is the liability provision.  Investors could bring private rights of action against rating agencies for a knowing or reckless failure to conduct a reasonable investigation of the facts or to ... Read More »

NEW COMPETITION LURKING IN THE WINGS FOR CREDIT RATING

Notwithstanding the imminent ‘thumb of government’ a number of companies have indicated their interest in entering the credit rating business:  Morningstar (see page 15), Bloomberg, Coface, Kroll, Hearst and not to be left out KPMG and PwC.  What makes them think they will do better?     BIIA Newsletter June I – 2010 Issue Read More »