CreditRiskMonitor Announces Licensing Agreement with Morningstar Credit Ratings
Valley Cottage, New York – October 3, 2018 – CreditRiskMonitor (OTCQX: CRMZ) today announced a new licensing agreement with Morningstar Credit Ratings, LLC, a nationally recognized statistical rating organization (NRSRO) and a subsidiary of Morningstar, Inc. (NASDAQ: MORN). Morningstar Credit Ratings offers a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data and technology solutions.
“We’re pleased to be adding Morningstar Credit Ratings’ issuer credit ratings and news into our platform for subscribers at no additional cost,” said CreditRiskMonitor CEO Jerry Flum. “This new data from Morningstar Credit Ratings augments our offering, which includes our highly accurate and proprietary FRISK® and PAYCE® scores, as well as Fitch, Moody’s and DBRS’ issuer credit ratings. We continue to make value-added investments to our service so our subscribers have the best financial risk assessment tools out there.”
“We’re excited about including our corporate and financial institution issuer ratings on the CreditRiskMonitor platform,” said Brian Grow, president of Morningstar Credit Ratings. “Over the past several years, investors have come to rely on our ratings and analysis. The transparency and unique forward-looking perspective included in our research and ratings will bring value to the CreditRiskMonitor client experience. We look forward to a long and productive partnership.”
CreditRiskMonitor continually invests in cutting-edge technologies to improve the accuracy of its predictive scoring methods. In partnering with Morningstar Credit Ratings, CreditRiskMonitor incorporates a leading provider of credit ratings and credit risk analysis in the U.S.
CreditRiskMonitor is a financial risk analysis and news service for credit, supply chain and financial professionals. Our strength in coverage spans 58,000 global public companies, totaling about $70 trillion in corporate revenue. We also offer solutions that can help ease private company financial risk assessment. Professionals from more than 35% of the Fortune 1000, plus thousands more worldwide, rely on us to help them stay ahead of financial risk quickly, accurately and cost-effectively.
At the core of our fundamental service is our 96% accurate FRISK® score, formulated to assess bankruptcy risk in public companies within a 12-month window. The FRISK® score incorporates a number of critical risk indicators including crowdsourced click patterns of risk professionals who are highly influential in the daily commerce of some of the world’s largest corporations, making decisions affecting billions of dollars of purchase and sale transactions every month.
New for 2018, the CreditRiskMonitor PAYCE® score is used for private company financial risk assessment and is formulated with deep neural network technology, a type of artificial intelligence. The PAYCE® score guarantees 70% accuracy in measuring financial stress for more than 80,000 private companies in our database.
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