CHICAGO, Oct. 11, 2011 /PRNewswire/ -- 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 transactions. The service will be focused toward
the investor community, and will improve market transparency,
ratings stability, and especially the timeliness of surveillance
reviews and ratings updates.
Robert Dobilas, president of
Morningstar's structured credit ratings business said, "Before the
recent credit crisis, the traditional rating agencies considered a
transaction to be performing normally unless it broke an
"exception" threshold, in which case it would then be subject to a
full surveillance review. In today's dynamic post-crisis
mortgage world, the passive surveillance routine of the past is no
longer acceptable. Investors are demanding a surveillance process
that is proactive, timely, and transparent. RMBS investors
need comprehensive, up-to-date information about the potential
credit risk of their RMBS investments."
Each Morningstar RMBS rating will undergo a rating review every
month, which will allow the analysis to quickly reflect market
changes. In addition to Morningstar's monthly DealView
analysis and letter ratings, the new service will feature an
interactive statistical model with investor-driven assumption
capabilities, updated performance data, default probabilities, and
loss severity projections.
"We built our reputation in structured finance by providing
investors with the gold standard of analysis for CMBS securities, a
market that was traditionally underserved by the other rating
agencies," said Dobilas. "Our CMBS analytics changed the way
investors conducted surveillance of their portfolios and performed
reviews of secondary market investment opportunities. With
RMBS Ratings and Analytics, we intend to do the same for the RMBS
market."
Investors interested in scheduling a demonstration of RMBS
Ratings and Analytics should contact Morningstar at 800-299-1665 or
ratingagency@morningstar.com. Investors are also encouraged to
visit the Morningstar Exhibit at the 2011 ABS East Conference for a
demonstration.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent
investment research in North
America, Europe,
Australia, and Asia. The company offers an extensive line of
products and services for individuals, financial advisors, and
institutions. Morningstar provides data on approximately 400,000
investment offerings, including stocks, mutual funds, and similar
vehicles, along with real-time global market data on more than 5
million equities, indexes, futures, options, commodities, and
precious metals, in addition to foreign exchange and Treasury
markets. Morningstar also offers investment management services
through its registered investment advisor subsidiaries and has
nearly $180 billion in assets under
advisement and management as of June 30,
2011. The company has operations in 26 countries.
The RMBS ratings practice is part of Morningstar Credit Ratings,
LLC, Morningstar Inc.'s structured credit research and ratings
subsidiary, a Nationally Recognized Statistical Rating Organization
(NRSRO).
©2011 Morningstar, Inc. All rights reserved.
MORN-C
Media Contact:
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In Chicago: Margaret Kirch
Cohen, 312-696-6383 or margaret.cohen@morningstar.com
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In Horsham, Penn.: Joe Petro,
267-960-6004 or joe.petro@morningstar.com
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SOURCE Morningstar, Inc.