Provision for 20% voting cap may put issuers "essentially in control over how much that holder can vote."
Morningstar plans to acquire Toronto-based debt-rating agency DBRS for $669 million, seeking to expand its credit-ratings business.
Two large Chinese borrowers missed payment deadlines, underscoring the risks in a credit market that's witnessing record company failures.
U.S. corporate DB plans increased their exposures to LDI strategies following large contributions, a strong equity market and rising rates.
Municipal-bond mutual funds are again buying Puerto Rico's debt as a restructuring of $17 billion in debt moves toward a potential court OK.
High-yield fixed income dominated Morningstar's list for a second consecutive quarter.