Municipal Bond Issuers

Most munis pay no interest until maturity or have a set or variable rate of interest. Periods of repayment span from a few months to 30 years or more. An impartial rating agency evaluates whether a municipal bond will be repaid and, in general, the bond’s quality. Standard & Poor’s, Fitch, and Moody’s are the three major muni bond rating organizations in the United States.