Morningstar, Inc. · NASDAQ:MORN
Morningstar — Merger or Acquisition (April 2022)
11 slides from Morningstar's merger presentation, Apr 4, 2022
Slide 1: Morningstar Announces Agreement to Acquire LCD Business from S&P Global
©202 2 Morningstar. All Rights Reserved. April 4 th , 202 2 Morningstar Announces Agreement to Acquire Leveraged Commentary and Data (“LCD”) Business from S&P Global
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement Forward - Looking Statements This presentation includes "forward - looking statements" within the meaning of the "Safe - Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, proje
Slide 3: Morningstar is acquiring leveraged loan data and research provider LCD
▪ Morningstar to acquire Leveraged Commentary and Data (“LCD”) business from S&P Global ▪ LCD is the industry standard for news, research, data, insights, and indexes for the leveraged finance market ▪ LCD’s coverage of the leveraged loan market combined with PitchBook’s coverage of the private and
Slide 4: LCD's value proposition aligns with Morningstar mission and strategy
4 ▪ LCD broadens Morningstar capabilities in leveraged finance with private loan data and expert coverage of the primary and secondary leveraged loan and high - yield markets ▪ Integration into PitchBook and Morningstar Indexes creates opportunities to deliver more robust data and analytics for inve
Slide 5: LCD complements PitchBook offerings in the private capital markets
5 LCD complements PitchBook offerings in the private capital markets Private Credit Workflow Needs Capabilities to Satisfy Workflow Needs Data Sets Market Intelligence Sourcing Underwriting & Execution Monitoring PitchBook LCD High - yield Bond Market X X X ✓ Leveraged Loan market X X X ✓ Broadly Sy
Slide 6: LCD expands fixed-income data and capabilities across Morningstar Indexes
LCD expands fixed - income data and capabilities across Morningstar Indexes Can further accelerate the growth of Morningstar Indexes – already one the fastest - growing index providers in the industry Provides greater access and ability to further partner with LCD’s institutional fixed - income clie
Slide 7: About LCD
About LCD 7
Slide 8: LCD is the industry standard for leveraged finance news, research, data, indexes
8 LCD is the industry standard for news, research, data, insights, and indexes for the leveraged finance market Unique Offerings News Real - time coverage of primary and secondary U.S. and European leveraged finance markets Research Unique insights into topical trends and deeper analytics to context
Slide 9: LCD's offerings cover the entire lifecycle of loans
9 Forward Calendar Launch Syndication Secondary Market Distress Bankruptcy Recovery Loan Lifecycle LCD’s differentiated offerings cover the entire lifecycle of loans and are reflective of its deep - rooted industry expertise and network
Slide 10: Real-time insights and proprietary data make LCD the trusted source
10 Real - time insights and proprietary data makes LCD the trusted source of leveraged loans news, data, and research ▪ Deep journalist network with over 20 journalists and editors with seasoned connections to market participants ▪ Long - established sources of primary and secondary market data ▪ Un
Slide 11: LCD indexes are the industry benchmark for leveraged loan markets
11 LCD indexes for the U.S. and European leveraged loan markets are the industry benchmark Leveraged Loan Index ▪ ~1,500 loans as tracked by leading portfolio managers ▪ Long history going back to 1997, presenting unique insights ▪ Market - leading index family for benchmarking and research ▪ LSTA h