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Morningstar Credit Ratings, LLC Affirms 'MOR CS2' Commercial Mortgage Special Servicer Ranking for Rialto Capital Advisors | ||||
NEW YORK, July 7, 2015-Morningstar Credit Ratings, LLC today affirmed its 'MOR CS2' commercial mortgage special servicer ranking for Rialto Capital Advisors, LLC. Morningstar's forecast for the ranking is Stable.
Morningstar affirmed its ranking based on Rialto's continued asset-resolution success for its opportunity funds, structured FDIC transactions, and nonperforming loan securitizations. Rialto is principally a named special servicer for new-issue commercial mortgage-backed securities (CMBS) and, as a result, has resolved few assets within the conventional CMBS framework. The affirmed ranking also considers Rialto's experienced staff, strong technology, diligent asset analytics, robust compliance practices, and sound internal audit procedures that center on FDIC-commissioned reviews. To the extent Rialto's active servicing portfolio becomes more concentrated with CMBS and non-FDIC-related assets, the company may benefit from an expanded audit regimen. To access Morningstar's operational risk assessment methodology and all published reports, please visit https://ratingagency.morningstar.com. About Morningstar Credit Ratings, LLC and Morningstar, Inc. Morningstar Credit Ratings' rankings, forecasts, and assessments contained in this press release are evaluations and opinions of noncredit related risks, and therefore, are not credit ratings within the meaning of Section 3 of the Securities Exchange Act of 1934 ("Exchange Act") or credit ratings subject to the Exchange Act requirements and regulations promulgated thereunder with respect to credit ratings issued by NRSROs. Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia. Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 15 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had more than $179 billion in assets under advisement and management as of March 31, 2015. The company has operations in 27 countries. Morningstar, Inc. is not an NRSRO, and its credit ratings on corporate issuers are not NRSRO credit ratings. # # # ©2015 Morningstar, Inc. All Rights Reserved. MORN-R | ||||
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