T. Rowe Price Intermediate Municipal Bond Fund Advisor Class PAIFX

Medalist Rating as of Apr 25, 2026 See T. Rowe Price Investment Hub

NAV and 1-Day Return as of Nov 12, 2026, 1:18:21 AM

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PAIFX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PAIFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of PAIFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Elizabeth Foos

Associate Director

T. Rowe Price Summit Municipal Intermediate’s approach remains thoughtful and collaborative despite several team changes over the past three years.

by Elizabeth Foos

Rated on Apr 25, 2026 Published on Apr 25, 2026

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Portfolio Holdings PAIFX

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.329%	1.11	55M	municipal
PUERTO RICO COMWLTH 5.75%	1.03	51M	municipal
Cash Offsets For Shorts & Derivatives	0.77	38M	Cash and Equivalents
PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%	0.70	35M	municipal
BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV 4%	0.65	32M	municipal
SOUTHEAST ENERGY AUTH COMMODITY SUPPLY REV ALA 4%	0.58	29M	municipal
PUERTO RICO COMWLTH 0.00001%	0.54	27M	municipal
CHANDLER ARIZ INDL DEV AUTH INDL DEV REV 5%	0.52	26M	municipal
MAIN STR NAT GAS INC GA GAS SUPPLY REV 5%	0.47	23M	municipal
ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV 5%	0.43	22M	municipal