WASHINGTON — Municipal bond analysts worry that issuers increasingly are drawing on bond insurance to temporarily pay for debt service without disclosing the action to investors.

“Any time an issuer responsible for paying debt service doesn’t pay and an enhancer ends up paying, it seems to me that would be a disclosure item,” said Mark Stockwell, chairman of the National Federation of Municipal Analysts and director of municipal research at PNC Capital Advisors LLC in Philadelphia.

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