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The European Leveraged Finance Group is responsible for approximately 400 -500 point-in-time credit opinions, private ratings and public ratings on European leveraged corporate credits across a range of sectors, working in tandem with sector-specialised colleagues in the European Corporates group. The ELFG also publishes widely-read periodic and ad hoc research and commentary on the European leveraged markets and presents regularly at conferences and on tours to the European leveraged credit banking, issuer and investor communities.
Reporting to the team head, the successful candidate will contribute to the Group's activities in the leveraged/sub-investment grade rating arena across both public ratings and private ratings or credit opinions, covering the full range of debt products, including senior secured loans, second-lien and mezzanine debt, uni-tranche, payment-in-kind and high yield bonds.
Fitch's leading position in the European leveraged loan market means that the agency's rated universe in this market continues to grow rapidly, with many of the ratings assigned being used by CLO asset managers and other alternative debt management platforms.
The Group's focus on the evolving and challenging leveraged credit markets in Europe makes this an extremely dynamic environment in which to work, requiring regular and effective dialogues with other Fitch departments, including Structured Finance and Corporates, as well as an ability to communicate effectively with issuers, investors, bankers, journalists and other professionals.
Principal responsibilities will include: preparing analytical summaries on individual leveraged credits; engaging in marketing and issuer management meetings; presenting rating recommendations to our internal rating committees; and contributing to the Group's on-going operational, statistical data development and research publication activities.
Qualifications and experience:
Analytical experience, with strong credit skills a pre-requisite.
Exposure to the European leveraged credit markets, preferably in an analytical role.
Strong written and verbal communication skills and the ability to manage internal and external relationships effectively.
German and English required while Spanish would be beneficial.
Extremely strong numeracy skills and experience with financial models, forecasting and sensitivity analysis.
Familiarity with legal documentation and structures is beneficial but not crucial.
The ability to integrate quickly into the ELFG, rapidly assimilating our methodological approach to credit ratings.