Morningstars Structure Credit Research and Ratings was the Morningstar subsidiary registered as NRSRO in the US. Next to these activities, Morningstar assigns Corporate ratings and Fund ratings.

In 2019, Morningstar acquired DBRS. 

Business model: Morningstar operates a mixed model, as ratings may be issued upon request of the issuer, of the investor or may be carried out by Morningstar without a specific request.

Coverage: Morningstar covers as an NRSRO exclusively Asset-Backed Securities (according to the US SEC annual report, MCR reported 13.935 ratings as of December 2012). In addition, Morningstar’s Non-NRSRO activities cover Corporates and Funds ratings.    

Availability of ratings and reports at website: You will need to register an account with MCR in order to view ratings and reports.