The US mutual funds rating company Morningstar has acquired a Toronto-based DBRS credit ratings. The 699 millions dollars deal was published on Wednesday.
According to Morningstar, it is entering the credit ratings markets with the acquisition, which is dominated by the three agencies S&P, Moody´s and Fitch. Morningstar says it will expand the global coverage and provide an enhanced platform.
DBRS, which is the fourth largest rating company in the world, reported a 167 million dollars revenue for the fiscal year ended November 2018.
The UK credit rating is still at risk from a no-deal Brexit,says the S&P Ratings and Fitch Ratings according to Reuters.
– The agreement between the EU and the UK to further extend the process to the end of October 2019 reduces but does not eliminate the risk of a no-deal Brexit over the next six months, Fitch said on Friday.
The UK Goverment has been negotiated with the EU leaders and the UK Parliament in order to avoid this kind of situation and thus avoid the possible economic and financial stress elements. Both credit agencies have a AA rating on the UK Goverment debt.
S&P has a negative outlook for the British economy and according to the agency the outlook could be revised to stable if there will be more certainty about the negotiations with the EU.