When a bond issue is brought to the market with an Official Statement, it will most likely be accompanied by a credit rating. In anticipation of a bond sale or if an issuer would like to obtain an indicative rating, we submit all necessary documents and information to the rating agencies. Munistat engages in approximately 75 rating agency reviews and surveillance calls per year. It is Munistat’s policy to participate in the conference call with the rating agency in order to present our views regarding the Issuer’s rating. If the situation warrants, we will arrange a personal meeting with the rating agency credit analysts to further solidify our position. Copies of such rating agency presentations are made available upon request.