NEW YORK, Feb. 25, 2014 /PRNewswire/ -- Morningstar Credit Ratings, LLC today announced that Calvin Wong, 55, has joined the company as chief credit officer. Wong is responsible for enhancing the internal control structure for ratings by reviewing rating methodologies and criteria, supporting credit rating model review processes, and overseeing the development of rating criteria. Wong is based in New York City and reports to Vickie Tillman, president of Morningstar Credit Ratings.
"Calvin is an extremely skilled industry veteran with nearly 25 years of experience in structured finance," Tillman said. "His in-depth knowledge of both residential mortgage-backed securities and asset-backed securities is a great addition to our team. We look forward to working with Calvin to continue our expansion into new areas of the structured finance market."
Wong most recently worked for Standard & Poor's, where he served as practice criteria officer of Global RMBS and managing director of criteria and quality of structured finance ratings. He joined the company in 1987. Wong worked in structured finance credit analytics, asset securitization, debt ratings, credit policy, and corporate governance. He also led Standard & Poor's Asia-Pacific structured finance ratings business and governance services from 1998 to 2005.
Wong holds a master's of business administration in finance from The Wharton School at the University of Pennsylvania and a bachelor's degree in economics from Cornell University.
About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a Nationally Recognized Statistical Rating Organization (NRSRO) that specializes in structured credit research and ratings, and offers a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.
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 446,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 10 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 registered investment advisor subsidiaries and had approximately $159 billion in assets under advisement and management as of Dec. 31, 2013. The company has operations in 27 countries.
Morningstar, Inc. is not an NRSRO and its credit ratings on corporate and municipal issuers are not NRSRO credit ratings.
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