Credit Analyst - Analyst level
Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide have helped fund a century of growth and enable you to make important credit judgments with confidence.
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Department overview: The Global Infrastructure and Project Finance Group (GIG) is responsible for the credit ratings of companies and non-recourse project finance transactions mainly in the transportation, energy, and social infrastructure sectors. Globally, GIG consists of around 65 analysts with backgrounds particularly in project finance, structured finance, corporate finance and public finance.
The portfolio includes public and private ratings covering a variety of transaction types, including project finance, corporate finance and structured finance. The Issuers include owners of airports, toll roads, ports, rail infrastructure, power plants, oil and gas facilities, renewable assets or Public-Private Partnerships. The team's output consists mainly of annual surveillance reviews, new ratings and sector research reports which are published primarily through Fitch's website. The senior analysts present regularly to market participants at conferences and other events.
Responsibilities: Based in London or Madrid you will report to a Director in the EMEA GIG Team. You will have primary or secondary analytical responsibility for rating transactions primarily within the transport sector (such as ports, airports and toll roads), but could also include PPP's and / or the energy sector (including wind, solar, thermal or waste to energy power as well as oil and gas). Specific responsibilities will include but may not be limited to the following:
- Undertake, as Primary or Secondary Analyst, credit ratings on new transactions.
- Conduct regular reviews on a number of existing public and private ratings.
- Present credits to internal rating committees.
- Participate and contribute in rating committees for other rated transactions.
- Prepare rating action as well as non-rating action commentaries and reports for publication.
- Lead and participate in the preparation of special research reports.
- Lead and participate in internal project initiatives to enhance systems, modelling, and criteria.
- Support the team in outreach activities, including conducting research and drafting presentations
Qualifications and experience: The ability to identify quickly the key risk factors in a transaction is an essential requirement. Some experience in transportation and/or energy infrastructure would be an advantage but not a requirement. You will have developed excellent Excel and financial modelling skills to support your analysis, as well as gathered an understanding of capital structures. Word and PowerPoint skills are preferable but not a requisite.
You must possess demonstrable written and verbal communication skills coupled with the ability to formulate and deliver clear and concise opinions within robust analytical rationale as you will have interactions with ratings committees as well as issuers, bankers and other external parties. Additionally, you must be able to ask probing questions of companies and their advisers and keep fully up to date with sector trends in order to assess the impact on particular transactions. Fluency in English is a prerequisite. Additional language skills would be an advantage.
You must show flexibility, be autonomous and take responsibility of your job. Additionally, you must have initiative, propose solutions and ideas as well as be able to work with tight deadlines in a fast-paced and multi-cultural environment to achieve clear goals
Given the requirement for rating agencies to provide independent opinions, strength of character and discipline is required and you must be able to appreciate the wider regulatory environment in which Fitch operates.
Fitch is committed to providing global securities markets with objective, timely, independent and forward-looking credit opinions. To protect Fitch's credibility and reputation, our employees must take every precaution to avoid conflicts of interest or any appearance of a conflict of interest. Should you be successful in the recruitment process at Fitch Ratings you will be asked to declare any securities holdings and other potential conflicts prior to commencing employment. If you, or your immediate family, have any holdings that may conflict with your work responsibilities, you may be asked to divest yourself of them before beginning work.
Fitch is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.
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