Morningstar Seeks SEC Consent to Rate Companies, Financial Firms
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Morningstar Inc., the research firm that started rating asset-backed securities in 2010, is now applying for a license to grade the debt of companies and financial institutions.
The mutual-fund researcher submitted a draft application to the U.S. Securities & Exchange Commission for permission to evaluate corporate debt as a Nationally Recognized Statistical Rating Organization, according to Morningstar Credit Ratings President Vickie Tillman.