In the run-up to the Q4 launch of Morningstar's
forward-looking ratings for mutual funds, the Chicago firm has dropped its previously
announced plan to use AAA, AA and A for the three positive ratings. Instead, Morningstar will use Gold, Siver and Bronze.
"We are making this change because we want to avoid any possible confusion with
credit ratings and make sure investors understand that our rating scale is associated
with fund investing," wrote Morningstar spokeswoman Margaret Kirch Cohen
in an e-mail.
The Wall Street Journal's Deal Journal
picked up on the change.
The Neutral and Negative ratings will remain the same. Morningstar will continue to use the AAA-rating system for its fixed-income credit ratings.
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