Kroll Bond Rating Agency's public finance ratings became available on Municipal Securities Rulemaking Board's disclosure website EMMA Monday morning, adding to the already existing Standard & Poor's and Fitch Ratings information.
The information can be found of the Security Details page for each individual municipal security on EMMA and is featured in the disclosure website's advance search function and trade data views, according to a press release issued by KBRA. The partnership between KBRA and MSRB is part of an effort to increase transparency and information availability in the traditionally opaque municipal bond sector.
"We believe in the MSRB's mission to expand the information available for investors," said Jim Nadler, President of Kroll Bond Rating Agency, Inc. "This is continued recognition for KBRA's market acceptance within the Public Finance space."
KBRA and MSRB reached an agreement in July 2014 to feature the relatively new agency's bond ratings on EMMA. The MSRB has invited all Nationally Recognized Statistical Rating Organizations to feature their ratings on EMMA, though they are not required. S&P and Fitch ratings have been available since 2011.
"The addition of KBRA credit ratings to EMMA gives investors yet another tool to make more informed decisions about municipal bonds," said MSRB executive director Lynnette Kelly, in a previous interview with The Bond Buyer. "The MSRB welcomes KBRA's participation and support of EMMA's goal to enhance access to municipal market information."
KBRA has prioritized expanding its municipal market business since entering the space three years ago. In June alone it added four public finance vetrens, though it remains much smaller than the three other ratings giants of S&P, Fitch and Moody's Investors Services.
"We believe in the MSRB's mission to provide investors with real time info," said Jim Nadler, president of Kroll Bond Rating Agency, Inc, in a previous interview with The Bond Buyer. "This is another milestone for our firm and recognition of our market acceptance within the public finance space."
