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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 you will report to the EMEA Head of Transport Infrastructure. You will be one the few senior GIG representatives in the Fitch London office and you will supervise other junior GIG employees, some of them in direct report line. You will have lead analytical responsibility for new and existing rating transactions, mainly in the UK, primarily within the transport sector (e.g. toll roads, ports and airports), but could also include Alternative Investment Assets and Sports. In addition, you will be involved in the writing and publishing of research projects as well as leading outreach activities for the transport sector.
Specific responsibilities will include but may not be limited to the following:
Qualifications And Experience
- Be the sector expert for EMEA on a couple of transport sub-sectors.
- Undertake, as Primary and Secondary Analyst, credit ratings on new transactions.
- Conduct regular reviews on a number of existing public and private ratings.
- Closely follow developments surrounding rated transactions and the overall infra transport sectors, assessing the potential impact on the transaction and maintaining contact with related parties.
- 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.
- Represent Fitch in external meetings and discuss GIG criteria, rating approach and sector trends with Bankers, Issuers and Investors.
- Participate and contribute in internal discussions on sector-wide credit issues.
- Lead in the preparation of special research reports.
- Lead in internal project initiatives to enhance systems, modelling and criteria.
- Lead in outreach activities, including conducting research and drafting presentations.
The ability to identify quickly the key risk factors in a transaction is an essential requirement. You will already have gained a solid experience over a number of years in analytical roles within a financial services firm, investment management or corporates within the transport infrastructure sector. Understanding and exposure to both project finance and corporate structures is a prerequisite. Experience in other infrastructure sectors would be an advantage but not a requirement. As a result, you will have negotiated transactions to close, developed excellent Excel and financial modelling skills to support your analysis, as well as gathered an understanding of capital structures and financial documentation. 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 to 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 fully 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 Group is a global leader in financial information services with operations in more than 30 countries. Wholly owned by the Hearst Corporation, we are comprised of three main businesses: Fitch Ratings | Fitch Solutions | Fitch Learning.
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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 interests 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, color, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.