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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Morningstar Inc | NASDAQ:MORN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.18 | -0.42% | 282.65 | 282.52 | 282.65 | 284.99 | 282.20 | 282.48 | 84,127 | 21:27:25 |
NEW YORK, Dec. 19, 2014 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned its 'MOR RV1' residential vendor ranking for ClearCapital.com, Inc. (Clear Capital) as a residential vendor in the asset valuation market. The forecast for the ranking is Stable.
The assigned ranking reflects Morningstar's assessment of Clear Capital's operational infrastructure and client-driven performance results in its duties as a residential vendor producing asset valuations. The Stable forecast for the residential vendor ranking stems from a pervasive risk management culture that incorporates audit, quality assurance, compliance, and legal oversight across the enterprise. The company has developed strong vendor selection criteria and vendor rating standards that effectively measure vendor performance as reflected in its execution of service-level agreements with customers. Clear Capital's proprietary technology provides the company with a highly flexible platform from which to effectively embed comprehensive quality assurance standards in all work orders received from vendors. Additionally, the technology provides a comprehensive rating system for evaluating the quality of both external vendor work and internal staff. Clear Capital offers extensive training and continuing education opportunities for new and tenured employees and has developed comprehensive policies and procedures to ensure the company consistently adheres to industry best practices. Clear Capital's flexible business model and proprietary technology provide the company with a solid business platform from which to pursue opportunistic market growth and a diversified business strategy. The assigned ranking is based on the following factors:
The forecast for the ranking is Stable. Morningstar believes Clear Capital is fully capable of serving as an effective residential vendor in the asset valuation market for a wide variety of financial institution clients. The Stable forecast is based on Morningstar's view that Clear Capital will maintain organizational stability, providing high-quality service and performance for clients. Clear Capital's flexible technology environment, risk management culture, industry-leading performance, and highly experienced management team should position the company well for continued growth and market expansion.
To access Morningstar's operational risk assessment methodology and all published reports, please visit https://ratingagency.morningstar.com.
About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a Nationally Recognized Statistical Rating Organization (NRSRO) that specializes in structured credit research and ratings and offers a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.
Morningstar Credit Ratings' rankings, forecasts, and assessments contained in this press release are evaluations and opinions of noncredit related risks and, therefore, are not credit ratings within the meaning of Section 3 of the Securities Exchange Act of 1934 ("Exchange Act") or credit ratings subject to the Exchange Act requirements and regulations promulgated thereunder with respect to credit ratings issued by NRSROs.
Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.
Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 479,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 13 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $169 billion in assets under advisement and management as of Sept. 30, 2014. The company has operations in 27 countries.
Morningstar, Inc. is not an NRSRO, and its credit ratings on corporate issuers are not NRSRO credit ratings.
©2014 Morningstar, Inc. All Rights Reserved.
MORN-R
Media Contact:
Michelle Weiss, +1 267-960-6014 or michelle.weiss@morningstar.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/morningstar-credit-ratings-llc-assigns-mor-rv1-residential-vendor-ranking-for-clearcapitalcom-inc-as-a-residential-vendor-for-asset-valuation-300012499.html
SOURCE Morningstar, Inc.
Copyright 2014 PR Newswire
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