Alacra aggregates credit research from the three largest Nationally Recognized Statistical Rating Organizations (NRSROs) in the world – Standard & Poor’s (S&P), Moody’s and Fitch. Alacra also makes available credit research from Morningstar, Inc.
A credit rating agency provides opinions on the creditworthiness of an entity and the securities it issues. Ratings agencies may publish opinions on investment grade corporate debt, high-yield corporate debt, financial institution debt, convertible bonds, sovereign debt, mortgage-backed securities, asset-backed securities, municipal bonds and special purpose vehicles.
Ratings agencies also publish special reports and commentary on a wide range of financial market issues, ranging from merger and acquisition volume to credit default swaps, from leveraged finance to earthquake insurance markets and from CMBS performance to political risk.
Credit research is used as part of the investment research process for both debt and equity securities. Historical reports also play a role in securities litigation and are frequently used by attorneys involved in such matters. Chief Financial Officers, business development personnel and corporate financial analysts use credit research to compare their own financial metrics with that of peer companies.
| Morningstar’s fundamental, forward-looking credit analysis offers a new perspective on credit quality. Our reports provide an independent, fundamental look at a firm’s credit worthiness, including forward-looking credit metrics derived from Morningstar analysts’ 5-year cash flow projections. Morningstar Credit Research covers more than 700 of the largest bond issuers globally. |
