Nobody at Morningstar seems to have been thinking about the bond market when they developed their new mutual fund outlook ratings, but someone must have raised an objection.
Instead of rating funds' prospects on a scale from Triple-A to Single-A, Morningstar will now award them gold-silver-bronze status.
Apparently somebody pointed out that AA, AAA, and similar terms have very specific meanings in the world of bonds and bond funds.
Calling a fund that holds AAA debt an "A fund," for example, would cause endless confusion.
I have to confess that I haven't worked much with Morningstar data for awhile, but they keep calling me to renew my subscription.
Is it as good as it used to be?