A clear definition of what constitutes a credit is a fundamental building block in selecting entities for inclusion in the Merritt Research Services dataset.

By design, Merritt data is assembled in a way that facilitates the evaluation of those entities responsible for the repayment of bonded indebtedness. We further narrow the focus to entities that are eligible via the tax code to issue bonds whose interest is free from federal taxation.

The entities responsible for paying the debt service on these bonds are defined as "credits."

Keeping the needs of our users in mind, Merritt Research Services has traditionally used the "Obligated Party or Group" audit as the basis for each credit record, extracting its contents into the Financial Data screen.

Over time, and in response to requests from a majority of subscribers, we have made an exception to the "Obligated Party or Group" rule. Within the Hospital sector, if an organized Healthcare System is in place, presenting an opportunity to choose between standardizing an audit for the Obligated Group or the overall Healthcare System, we now standardize the System audit.

In an effort to provide the maximum amount of usable information - even though certain financial statements may not be standardized - into the database, we will continue to scan all relevant documents received and make them available via the "Credit Detail Screen" as "Supplemental" images.

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