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Municipal Credit Intel Platform

Credit intelligence, grounded in primary sources.

Terrapin's AI gathers, extracts and flags across every municipal disclosure, so your analysts spend their time on judgement, not data entry.

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What is Credit Intel

Less time collecting data.
More time on credit work.

Municipal analysts spend most of their week finding filings, retyping numbers and checking what changed, across 50,000+ issuers with no common format.

Credit Intel is Terrapin's AI research platform for municipal credit. It finds the filings, extracts the figures and flags what changed across 50,000+ issuers, so your analysts spend their time on judgement, not data collection. Every number traces back to its source page.

Already in the platform

outstanding bonds
1.2M+
issuers and obligors
50,000+
disclosure documents
2.5M+
from filing to platform
5 min

Credit Intel's AI

  • Finds every relevant filing
  • Extracts what you ask for
  • Updates as new disclosures land
  • Flags changes and anomalies

Your analysts

  • Decide what matters
  • Verify any number in one click
  • Make the credit call

Main features

Four tools for the whole research workflow.

Compare figures across borrowers, summarise each credit, monitor every new filing and ask anything. All on the same data, all cited to the page.

Compare · Data Tables

One question. Every borrower. Side by side.

Describe the figures you need and Data Tables extracts them across 10 or 1,000+ obligors at once. You define the calculation, not a preset metric list. Every cell shows its inputs, formula and source page.

  • Ambiguous values flagged: refine and re-extract
  • New filings fill gaps automatically
  • Years of history, pivoted by obligor or period
  • Financial and operating data, exported to Excel

Summarise · Tear Sheets

A living credit memo for every name you cover.

Tear Sheets turn your team's credit view into a template. You set the figures, qualitative points and scoring methodology. Run it on one obligor or your whole universe, and every sheet updates as new filings arrive.

  • Quick universe screens or deep reviews
  • Every point cited to its source page
  • A current read for traders and PMs before they trade
  • Export to PDF or Word

Monitor · Surveillance

Every new filing, read and summarised within minutes.

A live feed of everything that matters across your watchlists: new filings, rating changes, metric breaches and more. Each event arrives summarised, so you can flag what needs follow-up and mark it complete once actioned.

  • Filings ingested within 5 minutes of publication
  • Credit ratings included
  • Investor calls added to your calendar in one click
  • Filter by watchlist, event type and sentiment

Ask · Deep Dive

Ask anything. Get the answer, and the page it came from.

Ask about any obligor, bond or filing in plain language. EMMA and other sources are already in the platform, so there's nothing to upload. Answers come back as text, tables or calculations, and follow-ups keep the context.

  • Calculated figures show their formula and cited inputs
  • Web search covers news and external sources
  • Scalable analysis on multiple obligors at once
  • External information or research added with one click

Your research, your IP

Everything you build belongs to you.

Off-the-shelf datasets give every subscriber the same fields, defined the same way, with adjustments nobody can see. Credit Intel works the other way round. Your analysts decide what to extract, how it's calculated and what goes into each report. The outputs are yours. Instead of renting the same data as everyone else, you build research no competitor can buy.

Compared on Off-the-shelf datasets Built into Credit Intel
Data Fields the vendor chose Any figure your analysts define
Coverage Partial universe, certain periods Full universe, any period
Calculation Vendor adjustments, often undisclosed Your definitions, in plain language
Timeliness Often delayed Within minutes of filing
Access Every subscriber Your team only
Traceability Hard to trace to the filing Cited to document and page
Ownership Licensed to you Yours

Our philosophy

An open ecosystem. No walled gardens.

Credit Intel and the Terrapin data underneath it plug into the tools you already use: tables into your models, memos into your reports, data into your own systems and AI tools.

  • Excel

    Export Data Tables to Excel, or copy any Deep Dive table straight into a spreadsheet.

  • PDF and Word

    Export Tear Sheets and Deep Dive answers for reports, committees and clients.

  • Data API

    Pull bond reference data, trades and source documents into your own systems.

  • MCP server

    Connect your own AI agents to Terrapin's data with our official MCP server.

  • Your calendar

    Add investor calls and bondholder meetings to Outlook in one click.

  • Documents in and out

    Download the original filings, and upload your own to be read alongside them.

View the API documentation

Frequently asked questions

Do I need to license data separately?

No. Credit Intel runs on Terrapin's own municipal data, and it comes with your licence: reference data on 1.2M+ outstanding bonds, 50,000+ issuers and obligors with their name variants mapped, MSRB trades, and 2.5M+ official statements and continuing disclosures.

Do I need to upload documents?

No. Official statements and continuing disclosures are already in the platform, linked to the right bonds and borrowers. If you have documents of your own, such as management presentations or internal notes, you can upload them, and they are read and cited alongside the official filings.

How is the platform priced?

An enterprise licence, tiered by usage. There is no per-seat pricing, so your whole team can use it. Deep Dive, Tear Sheets and Data Tables use credits in proportion to the work each request takes. Our system is purpose-built for muni analysis, which results in significant efficiency gains compared to general-purpose tools.

Is access to the data via API included?

Yes. Every licence includes limited data API access, covering bond reference data, trades and source documents, as well as our MCP server for connecting your own AI agents. Talk to us if you need higher volumes.

How quickly is the data updated?

New disclosures are in the platform within 5 minutes of publication and appear in Surveillance throughout the day, alongside Moody's and S&P rating changes. Tear Sheets are rewritten when new filings arrive, and Data Tables show which obligors have new filings and which values changed.

Who owns the datasets and reports we build?

You do. Every Data Table, Tear Sheet and Deep Dive answer your team creates belongs to you, and you can export it to Excel, PDF or Word.

Can we check where a number came from?

Yes. Every figure and point cites its source document and page, and calculated figures show their formula and each input. Click a citation to open the filing at that page.

What support do you offer?

Direct support by email or other dedicated channels, with access to our engineering team.

See Credit Intel in action on the credits you cover.

Used by asset managers, insurance companies, hedge funds, broker-dealers and public finance professionals. Enterprise licence, tiered by usage. No per-seat pricing.

Book a Demo