Morningstar extends maturity of $300 million revolver to 2020

By Wendy Van Sickle

Columbus, Ohio, Dec. 28 – Morningstar, Inc. amended its credit agreement with Bank of America, NA on Dec. 21 to extend the maturity date to Dec. 21, 2020, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for a $300 million revolving credit facility with a $25 million letters-of-credit sub-facility.

The interest rate continues to be Libor plus a margin ranging from 100 basis points to 175 bps, depending on the company’s consolidated leverage ratio. The commitment fee ranges from 15 bps to 30 bps.

At closing of the amendment, $70 million was outstanding under the credit agreement.

Morningstar is an investment research and investment management firm based in Chicago.

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