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Morningstar Seeks to Uphold Analytical Independence of Credit Ratings 
Morningstar Credit Ratings has published an in-depth response to the SEC complaint 

February 17, 2021


Morningstar Credit Ratings, LLC (MCR), a subsidiary of Morningstar, Inc. and a former credit rating agency, today published an in-depth response to the United States Securities and Exchange Commission’s (SEC) complaint against MCR.

The SEC alleges that MCR violated technical rules that formerly applied to MCR when it was a credit rating agency. MCR is litigating this case because it complied with the relevant rules, and the SEC is overreaching its regulatory authority and infringing on the analytical independence of credit ratings. 

Analytical independence is important across Morningstar, including Morningstar’s credit rating business. Our decades-long culture and safeguards enable us to stand behind all of our research and ratings, and we will continue to bring clarity and diverse opinions to the market.  

We welcome you to read MCR’s published position paper in response to the complaint, available here.

Morningstar Credit Ratings Position Paper

Independent credit ratings are vital to the U.S. capital markets and are protected under federal law. Morningstar Credit Ratings shares its in-depth response to the SEC complaint.

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Press Release

Motion to Dismiss

SEC Response to MCR's Motion

MCR Reply to SEC Response