About

Smith’s Research & Gradings is a financial credit grading company that conducts research and creates unique credit reports using its own proprietary grading system. SRG provides research and disseminates credit gradings on securities sold both on a new issue basis as well as in the secondary markets. SRG’s mission is to provide real-time intelligence that provides greater accuracy and predictability to decision-makers.

Credit Rating Agencies provide information about the probability of default or non-payment of a security. Smith’s Gradings provide additional information about the likelihood of recovery in the event of default, as well as event risks that may impact the performance of the security.

The principal economic value of Smith’s credit analytics is grading securities on a new issue basis and the interest cost savings generated for investors from the difference in the market yield between the rated security and the same security that is graded. In addition, for complex or distressed securities or issuers that are not well known, Smith’s Grades may allow obligations to receive greater market acceptance than ungraded or non-investment grade obligations.

Smith’s Research & Gradings provides its customers with a wide variety of product choices.  Moreover, Smith’s Research & Gradings hosts industry leading conferences and publishes twice monthly a four-color magazine.  

The Company was formed in 1992. Smith’s Research & Gradings’ written manifesto stated its raison d’être was to provide independent, principles-based credit analytics. Over the past 18 years, Smith’s Research & Gradings has constantly improved and enhanced its credit analytics to better serve investors. Smith’s Research & Gradings accurately predicted the dot.com collapse in the late 1990s and, more recently, the banking capital crunch and sovereign flight risks. In 2002, Smith’s Research & Gradings delivered a presentation to The Society of Municipal Analysts entitled, “Financial Guaranty Insurance: Gambit or Folly?” At the presentation, Smith’s Research & Grading released its findings that demonstrated why the financial guaranty insurance industry was doomed to fail.

Smith’s Research & Gradings is seeking to rapidly expand to meet the growing need for Smith’s independent research and Smith’s proprietary gradings. The trends include: (i) the strong correlation between catastrophic failure and triple-A ratings of NRSROs; (ii) increased awareness as to the potentially fatal business flaw associated with the issuer-paid model of NRSROs; (iii) the perceived heightened risk profile of existing bond municipal bond portfolios, evidenced by increasing defaults and recent losses; and (iv) recent lawsuits that serve to underscore the adverse relationship of investors and Nationally Recognized Statistical Ratings Organizations (NRSROs)

We have over 300 clients worldwide, including many of the world’s largest Commercial Banks; Insurance Companies; Mutual Funds; Sovereign/Sub-sovereign Governments; Industrial Manufacturers; Investor Owned Utilities and Public Utilities; and Hedge Funds.

Smith’s Research & Gradings is headquartered in Fairfield, Connecticut.

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