Morningstar, Inc. yesterday launched a new credit research module providing corporate credit reports and ratings on 700 global issuers.
Drawing on the work of the company's more than 100 credit and equity analysts, a Morningstar press release says the module also includes:
• Credit reports that provide overviews of a company's creditworthiness, including forward-looking risk measures derived from Morningstar analysts' five-year cash flow projections;
• "Highlighted Issuer" reports, which evaluate the outstanding bonds from a single corporate credit issuer and provide detailed analysis on specific bond issues Morningstar's credit research team finds attractive and others to avoid;
• "Issuer News and Notes" which address recent ratings changes Morningstar has made, along with Morningstar's take on macro-economic trends in the credit investing landscape. The reports review new bond issuances and explore the credit implications of corporate actions such as share repurchases, M&A activity and spin-offs.