Notice of Effectiveness of Morningstar Credit Ratings LLC’s (MCR) Withdrawal from Registration as a Nationally Recognized Statistical Rating Organization (NRSRO)

On June 23, 2008, the Commission issued an order granting the registration of MCR (formerly known as Realpoint LLC) as an NRSRO in the class of credit ratings for issuers of asset-backed securities. On August 24, 2016, the Commission issued an order granting registration of MCR for two additional classes of credit ratings, financial institutions and corporate issuers.

On July 2, 2019, Morningstar, Inc., the parent company of MCR, completed its acquisition of DBRS, Inc. (DBRS). On November 15, 2019, MCR and DBRS took the following steps to consolidate their operations within a single NRSRO registration:

• MCR furnished to the Commission on Form NRSRO a voluntary notice of withdrawal from registration as an NRSRO; and
• DBRS filed with the Commission an update to its registration on Form NRSRO that added MCR to its list of credit rating affiliates in Item 3.

Pursuant to Rule 17g-1(g) under the Exchange Act, MCR’s withdrawal from registration as an NRSRO became effective on December 30, 2019, 45 days after the notice was furnished with the Commission. Therefore, as of December 30, 2019, MCR is no longer registered with the Commission as a separate NRSRO and instead operates as a credit rating affiliate under DBRS’s NRSRO registration.