DBRS has joined the Morningstar family.

On July 2, 2019, Morningstar, Inc. completed its acquisition of DBRS, resulting in a global credit ratings business of approximately 700 employees in eight offices around the world. This move is part of Morningstar’s mission to empower investor success and become the go-to source for independent credit ratings research.

We’ve expanded our global presence.

DBRS’s strong market presence in Canada, Europe, and the United States, alongside Morningstar Credit Ratings’ positioning in the U.S., will provide enriched global asset class coverage. This integration will also equip investors with an enhanced platform for fixed-income research and insights.

We’re joining forces and unifying methods.

Aligning our analytical teams is a key aspect of the integration between DBRS and Morningstar Credit Ratings. They’ll continue focusing on the U.S. structured finance market, notably the commercial mortgage-backed securities, residential mortgage-backed securities, asset-backed securities, and structured credits. This process includes integrating our respective rating methodologies, models, and credit opinions.

Shared values make this a natural fit.

DBRS and Morningstar Credit Ratings feature state-of-the-art models and modern technology that will deliver transparent and independent ratings. We are driven by similar core values that aim to bring more clarity, diversity, and responsiveness to the rating process.

Stay tuned—there’s more to come.

DBRS and Morningstar Credit Ratings remain committed to providing continued service to all who use our credit ratings research. We’re dedicated to keeping users informed of our progress as the integration proceeds.

Learn more about our companies and the products and services we offer.

What You Should Know

How does DBRS fit with Morningstar’s mission?

We want to empower investors by providing transparency and independent opinions across a broad spectrum of securities. Fixed income has been a staple in investor portfolios for decades, and it is a critical component of investors’ opportunities for long-term investing.

Headquartered in Toronto, DBRS is a like-minded organization with great people who share Morningstar’s commitment to serve the entire spectrum of the fixed-income investment community—from the issuer seeking ratings to the advisor selecting the most suitable fixed-income instruments for a client’s portfolio to the individual investor curious about bonds.

Despite bonds being an important part of a well-diversified portfolio, the size and complexity of the fixed-income universe can be especially challenging for advisors and individual investors to navigate and comprehend. We believe that by accelerating our credit ratings business, Morningstar can become a go-to source for credit ratings research as we have with research on stocks and managed investment products. In the credit ratings space, we work with many market participants with the ultimate goal of serving the end investor.

How does the acquisition benefit DBRS and Morningstar Credit Ratings clients?

Clients of both DBRS and Morningstar Credit Ratings will benefit from the combination of the best of both firms and the global innovations we plan to achieve together to serve the market better and more efficiently. We are in the process of combining two teams of very talented people.

DBRS and Morningstar Credit Ratings share a vision to empower investor success. We are utilizing leading edge technology to make our rating opinions and methodologies more transparent and bring greater depth of analysis to global credit ratings.

Contact Us

Business Development

Douglas Turnbull
Vice Chairman, Country Head - Canada
+416 597-7313

Sean O’Connor
Managing Director, Head of Global Business Development
+212 806-3252

Marta Zurita Bermejo
Managing Director, Head of European Business Development
+44 (20) 7855-6646


Scott Anderson
+1 416 597-7407

Stephen Bernard
+1 212 806-3240

Vanessa Sussman
+1 646 560-4541

Dennis Ferreira
+44 (20) 3356-1555