Life for ABS investors got a little easier this week as Morningstar Credit Ratings put out its methodology for U.S. ABS ratings, outlining the principles the firm uses when evaluating, rating and monitoring financial, operating and corporate asset transactions. Morningstar’s analytical framework utilizes seven areas of analysis common to ABS transactions: legal structure, asset quality, transaction structure, credit support, cash flow analysis, originator and servicer quality, and counterparty risk. The analysis begins...