Sell Pressure at S&P Global Delights DBRS Morningstar

Agencies

DBRS Morningstar will benefit from LCD data and news, supporting credit analysts and credit investor workflows.

S&P Global Market Intelligence’s Leveraged Commentary & Data (LCD) combines real-time news, data, tools, and analysis on the U.S. and European leveraged loan, high-yield bond, distressed, and investment-grade corporate markets. Produced by S&P Global’s own team of experienced journalists and analysts, LCD provides investors with the market-making news and in-depth research they need for their segment.

How does Morningstar think it will make money by buying this unit from its competitor? How do they think about the justification and financial value creation from the 11-12 times sales multiple paid? It was not a voluntary sale from S&P Global. Since it was a forced divestment to fulfil merger regulatory conditions – was it a competitive process?

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