Morningstar makes credit ratings drive with DBRS buy

By Jasper Cox, Mike Turner
29 May 2019

US investment research firm Morningstar has agreed to buy credit ratings agency DBRS for $669m, in a move that will expand its business in this area beyond the US. The deal will be partially backed by a new bank credit facility.

DBRS is the fourth biggest ratings agency behind the big three of Moody’s, Standard & Poor’s and Fitch. It operates across Europe and the US, though has a particularly strong market share in Canada.

The acquisition will bring $167m in revenue to financial data and research firm Morningstar, ...

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