WASHINGTON — More than 90% of municipal analysts surveyed believe they are more likely to hear about material events from the news than from issuers’ continuing disclosure notices, according to a new study.

While the Municipal Securities Rulemaking Board’s EMMA website has improved access to information that issuers disclose, analysts say they are cut off from significant amounts of additional information they believe is material, according to the study on the quality and relevance of muni disclosure.

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