MORNINGSTAR,INC. (NASDAQ:MORN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On December21, 2018, Morningstar,Inc. (the “Company” or the “Borrower”) entered into Amendment No.1 to Amended and Restated Credit Agreement with Bank of America, N.A. Amendment No.1 to Amended and Restated Credit Agreement amends the Amended and Restated Credit Agreement dated November4, 2016 by modifying certain terms to (1)extend the maturity date to December21, 2020; and (2)make other immaterial or clarifying modifications and amendments to the terms of the Amended and Restated Credit Agreement. Borrowings will continue to bear interest at variable rates.
The Amended and Restated Credit Agreement provides the Company with a revolving credit facility with a borrowing capacity of up to $300 million (the “Revolving Credit Facility”). The Amended and Restated Credit Agreement also provides for the issuance of up to $25 million of letters of credit under the Revolving Credit Facility. As of December21, 2018, the aggregate principal balance outstanding under the Amended and Restated Credit Agreement was $70 million. The Company’s obligations under the Amended and Restated Credit Agreement are unconditionally guaranteed by the Company’s subsidiaries, Morningstar Investment Management LLC and Morningstar Research Services LLC, and will in the future be guaranteed by any other domestic subsidiary of the Company (with certain exceptions) that contributes 10% or more of the consolidated revenue of the Company in any fiscal year.
This summary does not purport to be complete and is subject to and qualified in its entirety by reference to the Amendment No.1 to Amended and Restated Credit Agreement that is filed as Exhibit10.1 to this Current Report on Form8-K and incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this report is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Morningstar, Inc. Exhibit
EX-10.1 2 a18-42085_1ex10d1.htm EX-10.1 Exhibit 10.1 EXECUTION VERSION AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT This Amendment No. 1 to Amended and Restated Credit Agreement (this “Amendment”) is entered into as of December 21,…
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About MORNINGSTAR,INC. (NASDAQ:MORN)
Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia and Asia. The Company offers a line of data, software, research and investment management offerings for financial advisors, asset managers, retirement plan providers and sponsors, and individual investors. In addition to its United States-based products and services, the Company offers local versions of its products designed for investors in Asia, Australia, Canada, Europe, Latin America and South Africa. The Company serves approximately 250,000 financial advisors, over 1,300 asset management firms, approximately 30 retirement plan providers, over 300,000 retirement plan sponsors and approximately 10.1 million individual investors. The Company has operations in approximately 30 countries. The Company tracks market data on approximately 20 million exchange-traded equities, derivatives, commodities, currencies and other investments.
