Morningstar Credit Ratings, LLC President Vickie Tillman to Retire by Year-End

CHICAGO, Oct. 19, 2017 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced that Vickie Tillman, president of Morningstar Credit Ratings, LLC, has decided to retire from her position after five years of leading the credit ratings business, effective Dec. 31, 2017. In the interim, Tillman will work closely with Morningstar's senior management in the search for new leadership that will continue to nurture and grow Morningstar Credit Ratings.   

"It has been my pleasure to serve as president of Morningstar Credit Ratings over the past five years," said Tillman. "I am confident in the current team of analytical and business leaders that make up the credit ratings business today, and feel strongly that this is the right time to hand over the reins to new leadership that can take the organization to even greater heights."

Morningstar hired Tillman in 2013 due to her deep knowledge of the credit ratings business, along with a clear and concise vision for how to turn a small niche provider of commercial mortgage-backed securities (CMBS) ratings to a diversified credit rating agency. Her 40 years of experience and extensive knowledge of the credit ratings business and the global regulatory environment has been instrumental to Morningstar's expansion across multiple credit markets including residential mortgage-backed securities (RMBS), single-family rental securities, asset-backed securities (ABS), collateralized loan obligations (CLOs), and most recently, corporate, real estate investment trusts (REIT), and financial institution ratings.

"Vickie's extraordinary vision has transformed Morningstar Credit Ratings into a diversified agency that's focused on excellence in quality, client service, and integrity," said Kunal Kapoor, chief executive officer of Morningstar, Inc. "Credit ratings is a core investment area for us, and we are going to begin the search for new leadership right away. Thanks to the strong foundation, regulatory framework, and infrastructure that Vickie has laid out over the past five years, I'm confident that we are well positioned for future growth and continued success. We are thankful to Vickie for her efforts, and wish her the best as she enters retirement."   

Tillman's accomplishments during her five-year tenure include: leading the credit ratings expansion beyond Morningstar's roots in CMBS to a broader focus in structured finance, launching ratings for ABS, CLOs, and single-family rental securities, applying for and gaining the nationally recognized statistical rating organization (NRSRO) designation from the Securities Exchange Commission (SEC) for corporates and financial institutions in 2016, successfully applying for extension as a National Association of Insurance Commissioners (NAIC) Credit Rating Provider to all mortgage- and asset-backed securities, corporate securities and financial institutions, and establishing Morningstar Credit Ratings' New York City headquarters at 4 World Trade Center.

Morningstar is actively conducting a search for Tillman's replacement.

About Morningstar Credit Ratings, LLC and Morningstar, Inc.

Morningstar Credit Ratings, LLC is a nationally recognized statistical rating organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions. Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (Nasdaq: MORN).

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $200 billion in assets under advisement and management as of June 30, 2017. The company has operations in 27 countries.

©2017 Morningstar, Inc. All Rights Reserved.

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Contacts:
Media: Sasha Bigda, +1 312 244-7493 or [email protected]   

SOURCE Morningstar, Inc.