Our Municipal Credit Analysis Services

SAA’s municipal credit research services are used by a variety of institutional investors such as community banks, private wealth managers, municipal leasing firms, insurance companies, bond fund managers, etc., to assess and manage the municipal credit risk in their municipal portfolios. Our clients include those with existing in-house credit teams—where our support allows their analysts to focus on higher-value added tasks—to firms without any in-house credit team—where we essentially function as their municipal research department.

SAA can develop and implement a comprehensive and cost-effective program of municipal credit analysis to help you evaluate and monitor the risk profiles of your municipal holdings. Our services support all aspects of managing municipal assets from asset acquisition to final disposition and everything in between. Our team of veteran municipal credit analysts is experienced in handling virtually all types of municipal securities, including both taxable and tax-exempt bonds as well as tax and revenue backed obligations.

Automated Review Notifications
Informs the client that an analysis of a particular credit can be conducted, as the documents necessary to prepare that review are available. This service relieves the client of the responsibility to regularly check if documents are available so a review can be conducted.

Credit Outlooks
These brief reviews provide the client with a quick two-dimensional opinion of a municipal security’s credit profile.  We first report on the securities current credit position by describing it as Strong, Satisfactory or Weak.  We next give our opinion on the direction of that credit profile over the next 24-months using the descriptors Stable, Improving or Deteriorating. Each Credit Outlook also includes a brief summary of our rationale and sources of information. Credit Outlooks are presented in a spreadsheet format, with each review containing one row of data.

Bullet-point Reviews
These reviews provide a more detailed and refined credit opinion as compared to Credit Outlooks.  Each BPR contains a numerical Credit Score, a summary credit opinion, a description of the security pledge and an examination of those credit attributes most important in a review of this type of credit. The entire review is approximately one-page in length, with some being slightly smaller or larger than a page.

For those municipal securities under surveillance, we daily search for newly available information concerning municipal credit quality. The information is analyzed for content and reported on to the client.

SAA is also available to handle special projects and consulting. For more information on any of the services listed above--or any other municipal research needs--please contact us at (516) 639-1074, or email us at