Municipal Market Analytics (MMA) is an independent research firm based in Concord, Massachusetts, founded in 1995.  MMA’s core business is to provide strategic market and credit analysis and commentary on current, historical and quantitative conditions of the US municipal sector.  In 2012, MMA introduced the Portfolio Credit Benchmark (PCB), an enterprise risk solution for bank portfolios to meet their regulatory needs pertaining to the credit review of municipal bonds.   Also in 2012, MMA established its professional consulting division that provides independent analysis on important municipal issues.  The division’s projects have involved municipal risk and liquidity management, credit risk assessments and default/loss modeling.