Internship at a HY Muni Fund - are skills transferable?

So I received a pre-MBA offer to intern at a HY muni fund. Most of the fund's holdings are in hospitals, highways, charter schools, etc. My understanding is that some of their holdings are issued by private enterprises, which would potentially involve typical financial statement analysis/modeling. However, a majority of their holdings are utility-revenue or tobacco bonds.

Can anyone speak to whether the skills one would develop at a shop like this would be transferable to anything else, such as HY corporate or distressed debt, perhaps even equities? I don't come from a finance background, and ultimately want to work at a HF or MF with public corporate securities; I never really considered munis before and so don't know how to evaluate this opportunity. Thanks for any advice.