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Vanessa SussmanVanessa.Sussman@morningstar.com
Lea Overby Named Head of Commercial Mortgage-Backed Securities (CMBS) Research and Analytics for Morningstar Credit Ratings, LLC

NEW YORK, June 27, 2017 /PRNewswire/ -- Morningstar Credit Ratings, LLC, a nationally recognized statistical ratings organization (NRSRO), today announced that Lea Overby has been appointed head of commercial mortgage-backed securities (CMBS) research and analytics.

In her new role, Overby will oversee the ongoing management and development of Morningstar's CMBS business, including new issue and surveillance ratings, CMBS research, and CMBS analytical products. Overby is based in New York City and reports to Vickie Tillman, president of Morningstar Credit Ratings.

"Lea has proven to be an extremely effective leader on our CMBS team and has played a key role in the management of this growing business," Tillman said. "One of our primary goals at Morningstar is to ensure the market's understanding of our ratings process, methodologies, and models. We're confident that Lea's strong background and tremendous knowledge of CMBS and the structured finance markets will position our CMBS business for future success."

Overby is responsible for leading Morningstar's CMBS and commercial real estate (CRE) rating initiatives, including the management and ongoing development of analytical staff, rating methodologies, criteria, and models, and leading the group's effort to produce insightful analytical output while ensuring a high level of integrity, transparency, and accuracy in Morningstar's CMBS ratings.

Previously, Overby was managing director, research at Morningstar Credit Ratings, a position she held since she joined the company in August 2016.

Overby has more than 15 years of experience in structured finance as both an investor and a sell-side researcher. Before joining Morningstar, she served as head of CMBS and asset-backed securities (ABS) research at Nomura Securities, where she developed a well-regarded publishing platform focused on CMBS and both consumer and commercial ABS. Prior to Nomura, she served as a junior portfolio manager overseeing a portfolio of primarily CMBS for BNY Mellon Treasury.

Overby holds a bachelor's degree in mathematics from the University of North Carolina at Chapel Hill and a master's degree in mathematics from Vanderbilt University and has completed doctoral research in mathematics.

Overby replaces Charles Citro, who has left Morningstar to pursue other opportunities.

About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a nationally recognized statistical rating organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.

Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $200 billion in assets under advisement and management as of March 31, 2017. The company has operations in 27 countries. Morningstar, Inc. is not an NRSRO and does not issue NRSRO credit ratings.

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