Merritt Research Service’s Richard Ciccarone takes an in-depth look at chronically late municipal bond issuer audit times by credit sector and individual obligated borrowers. The analysis provides a credit sector historical breakdown and covers fiscal years 2008 to 2018. The report points to municipal borrowers that have a track record of completing their audits in 90 or 120 days providing positive evidence that the muni market can do better. Statistics collected in the Merritt Research study demonstrate an association between audit time and credit quality as well as other factors that often adversely impact audit times.
The full report, with a detailed statistical appendix that includes actual best and worst audit report times by sector, is available on the Muninet Guide. Access the report using the link below.
Richard A. Ciccarone
President Emeritus
Merritt Research Services, an Investortools Company
Richard has more than four decades of experience in the municipal bond arena, bringing deep expertise in fixed-income management and research across both buy-side and sell-side roles. He is widely recognized as a leader in municipal bond research and a pioneer in data services and municipal disclosure.
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For more than four decades, Investortools has been a leading SaaS provider of solutions regarded by the industry as a prerequisite for fixed-income investment management. Its comprehensive product suite covers portfolio, order, and execution management, performance analytics, 2a-7 compliance, and credit analysis. Trusted by over 200 firms managing more than $1 trillion in assets, Investortools supports SMA managers, fund managers, broker-dealers, and other key market participants.
Richard A. Ciccarone
President Emeritus
Merritt Research Services, an Investortools Company
Richard has more than four decades of experience in the municipal bond arena, bringing deep expertise in fixed-income management and research across both buy-side and sell-side roles. He is widely recognized as a leader in municipal bond research and a pioneer in data services and municipal disclosure.
