Morningstar DBRS Expands into Asia Pacific with New Australia Regional Hub

Morningstar DBRS brings global credibility and local insight to Australia’s credit ratings market

SYDNEY--(BUSINESS WIRE)-- Morningstar DBRS, one of the four largest credit rating agencies globally, today announced its official entry into the Asia Pacific region with a new regional hub in Australia. Morningstar DBRS’ strategic expansion builds on the Canada-founded agency’s 50-year track record in rating borrowers around the world and its commitment to advancing transparency, and investor choice in credit ratings across the region.

Morningstar DBRS has been rating international offerings of Asia Pacific issuers for around 25 years, and the Sydney office will bring its full range of services closer to clients and investors in the region.

Two highly experienced Managing Directors have been appointed to lead Morningstar DBRS in the region – Kevin Stephenson, who heads up APAC Credit Ratings and Natalie Wells who is head of APAC Business Development. Kevin and Natalie have extensive leadership backgrounds in the financial services and risk sectors, and both have been instrumental in the growth of the credit ratings industry across Asia Pacific in prior roles. The highly credentialled team also includes APAC chief compliance officer Sean Cook, and Morningstar DBRS plans further investments in its analytical and client service teams.

“Our entry into Australia reflects our commitment to empowering investors with deeper, forward-looking credit insights and we are proud to expand the Morningstar DBRS voice in the region,” Stephenson said. “Issuers and investors alike are seeking greater choice, diversity of opinion, and innovation in credit ratings.“

The Sydney hub will serve as a pivotal service center for the broader Asia Pacific region and local teams will be complemented by the global expertise of Morningstar DBRS’ network of nearly 900 professionals.

Wells said: “Our customers globally appreciate our commitment to outstanding service and nimble approach, particularly in responding to innovative assets and structures. We have the capability to rate over 160 asset classes with our extensive suite of internationally recognised methodologies.”

The firm’s extensive research experience supports the full spectrum of traditional credit ratings services and brings experience in new asset classes like private credit, esoteric structured finance and digital infrastructure. Morningstar DBRS’ approach fully integrates collateral analysis, credit-related climate and governance considerations, structured finance expertise, and real-time analytics, delivering a more holistic view of credit risk that supports investor confidence.

Currently, Morningstar DBRS holds a AAA, Stable credit rating on the Commonwealth of Australia. Ratings coverage across the region includes published ratings on major corporates and institutions, in addition to a significant portfolio of private rating engagements.

The Australian Securities and Investments Commission (ASIC) granted Morningstar DBRS an Australian Financial Services License (AFSL) in October, enabling Morningstar DBRS to issue credit ratings for consideration by wholesale clients only in Australia.

Biographies

Kevin Stephenson is a financial markets and risk management expert with over 30 years’ experience, including senior leadership positions with regulators, financial institutions and rating agencies in the United States, Asia, and Australia. His most recent role was in bank supervision at the Australian Prudential Regulation Authority. Stephenson has also worked as AMP Bank Treasurer, Global Head of Treasury for Macquarie Bank and Managing Director at Fitch Ratings.

Natalie Wells has more than 30 years’ experience in the ratings and banking industries covering Asia Pacific. Most recently she was Country Head Australia/New Zealand and Head of Relationship Management APAC at Moody’s Ratings. Previous roles include Director of Financial Services Ratings at Standard and Poor’s and senior positions in corporate banking and debt markets at Barclays and Westpac.

Sean Cook has extensive experience in banking and financial services in Australia, New Zealand, France, and the UK. He has been responsible for establishing and managing compliance functions across a diverse range of products and regulatory regimes, including APRA prudential standards, ASIC licensing, consumer credit, privacy and oversight of frameworks and governance.

About Morningstar DBRS

Morningstar DBRS is a leading provider of independent credit rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, we are one of the top four credit rating agencies in the world and a market leader in Canada, the U.S., and Europe in multiple asset classes.

Morningstar DBRS empowers investor success by bringing more transparency and a much-needed diversity of opinion in the credit rating industry. Morningstar DBRS' approach and size allow it to be nimble enough to respond to customers' needs in their local markets, but large enough to provide the necessary expertise and resources they require. Market innovators choose to work with us because of our agility, tech-forward approach, and exceptional customer service. Further information on Morningstar DBRS Australia can be found here.

©2025 Morningstar, Inc. All rights reserved.

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Christine St Anne, +61 407 915 145, Christine.stanne@morningstar.com

Source: Morningstar, Inc.