ABOUT - SMITH's

About Smith's

Smith’s Research & Gradings, founded by Terence Smith in 1992, has become a bellwether research company, often predicting significant trends and spotlighting controversial subjects months before they come to light elsewhere. From its inception, Smith’s Research & Gradings has championed independent, third-party credit analytics. In 1994, Smith’s Research & Gradings launched the world’s first comprehensive credit scale for the global fixed income markets. Smith’s analysis is an indispensable part of Wall Street and the world’s capital markets.

Smart Ways to Grow your Investments

Smith's Research & Gradings provides you with up-to-date insights and analysis for informed decision-making in the ever-changing financial landscape.

Smith's analysis is an indispensable part of Wall Street

Smith’s Gradings offer a comprehensive credit analysis of sovereign, sub-sovereign (including US Municipal Bonds), and corporate credit risks. Each grading consists of three components: default probability, recovery gradings (loss expectation), and event risk such as bankruptcy, earthquakes, floods, and hurricanes. Our track record remains unblemished since its launch in 1994. Smith’s Gradings correctly predicted the default of dot.coms. Smith’s Gradings correctly assessed the credit quality of WorldCom, Enron, and the bankruptcy filing by United Air Lines. In 2002, our proprietary research found the financial guaranty insurance industry had failed in 1924 and Smith’s Research and Gradings predicted it would fail again for exactly the same reason.

Smith’s Research & Gradings bi-weekly publication provides independent, third-party research and analysis for institutional investors.

Smith's Conferences provide exceptional forums for investors, issuers & market leaders

Smith’s Conferences provide exceptional forums for investors, issuers and market leaders to discuss matters of mutual interest. Smith’s sector-oriented approach immerses participants in the subject and provides meaningful content. Programs include, Smith’s Affordable Housing Finance Conferences, State and Local Government Finance Conferences, High Yield Municipal Bond Conferences, Infrastructure Conferences, and Smith’s All-Star Municipal Analyst Awards.

Smith’s Affordable Housing Conference is the oldest, most established symposium focused on investing in Multifamily Housing Bonds and Single Family Mortgage Revenue Bonds. Smith’s has been consistently out in front when approaching topics such as Not-for-Profit Health Care and Post-Employment Benefits.

The centerpiece of Smith’s Conference programs is the All-Star Municipal Analyst Awards Program. Municipal bond professionals from rating agencies, bond insurance companies, sellside firms and buyside institutions are eligible for recognition in Smith’s All-Star program. The All-Star Team is selected by thousands of votes from institutional investors.