As Ratings Shopping Takes Off, Morningstar Dominates in Canada

For years, one credit-ratings firm has handed out the most favorable grades to corporate borrowers in the Canadian bond market: Morningstar DBRS. On average, its ratings are one full notch...

By Chunzi Xu, Phil Kuntz · Bloomberg

For years, one credit-ratings firm has handed out the most favorable grades to corporate borrowers in the Canadian bond market: Morningstar DBRS. On average, its ratings are one full notch higher than those assigned by S&P Global Ratings, Moody’s Ratings and Fitch Ratings.