DBRS Morningstar

DBRS Morningstar is a global credit rating agency founded in Toronto in 1976 as the Dominion Bond Rating Service by Walter Schroeder. Morningstar, Inc. acquired the firm in a cash-and-stock transaction worth roughly 700 million dollars, announced in May 2019 and completed that July, merging it with Morningstar Credit Ratings to form the present combined agency. It now operates from offices in Toronto, New York, Chicago, London, Frankfurt and Madrid, provides independent credit ratings for financial institutions, corporations, sovereigns and structured finance products, and ranks as the fourth largest credit rating agency in the world by market share, one of only four rating agencies recognized as an external credit assessment institution by the European Central Bank.