# Credit analysts

URL: https://municorn.us/for/credit-analysts/
Updated: 2026-09-08
Tags: for, audiences

> **Cite as:** Municorn.us, "Credit analysts", Municorn water loss index, https://municorn.us/for/credit-analysts/ (source filings retrieved 2026-09-08).
> **Licence:** CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/ — reuse and redistribution are permitted with attribution to Municorn.us and a link to this URL.
> **Caveat that must travel with these figures:** "Water loss" is at least three different quantities depending on the jurisdiction, and nothing here supports a comparison between states.

Operating condition and disclosure timing for a water or sewer system, from the filings its regulator holds rather than from the offering document.

**Is this issuer's disclosure verifiable?**

The operating record and the disclosure are in two different places, held by two different bodies, on two different clocks. The regulator's filings are annual, they describe the physical system rather than the fund, and in some states they land months before the audit does.

What is checkable per filing is how much of a reported figure was measured and how much the form supplied. Only TWDB, of the regulators here, publishes that — on every Texas filing — and nothing reads it back out.

None of this is a rating, a credit opinion or investment advice. It is what a system filed and how much of it was measured, and it says nothing about the security.

_Municorn.us · https://municorn.us/for/credit-analysts/ · CC BY 4.0 https://creativecommons.org/licenses/by/4.0/ · source filings retrieved 2026-09-08_

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