Company Overview

Fitch Ratings is a leading global rating agency committed to providing the world’s credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade, gaining market presence throughout the world and across all fixed income markets. Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 47 locations and covering entities in more than 90 countries. Fitch Ratings is a majority-owned subsidiary of Fimalac, S.A., an international business support services group headquartered in Paris, France.

Department Overview

The Fitch Ratings International Public Finance Group provides coverage on the foreign and local currency debt of subnational governments as well as public sector entities. With global coverage coordinated from Barcelona and New York, and with significant offices in local marketplaces around the world, Fitch Ratings is able to offer a thorough and multicultural knowledge of public finance. Fitch Ratings has developed a comprehensive credit analysis approach based on a fine assessment of several factors: the relationship between the various tiers of government and an analysis of the link between the public sector entity and the subnational; the appropriate balance between economic and financial criteria as well as between objective and qualitative factors; the capacity to place highly diverse situations in an international perspective. The International Public Finance group maintains an ongoing dialogue with issuers, offering not only ratings but timely commentary on credit trends within the sector. Our analysts on the ground in local markets are able to respond quickly to evolving credit, legal and regulatory environment, as well as the relationships among the various tiers of government.

Job Description

The job will involve the analysis of subnational ratings in Spain but there will be opportunities to participate on ratings in other EMEA countries. Working as part of a wider team under the supervision of a Managing Director based in Barcelona, training will be provided as required. In addition to writing and managing the production of credit rating reports, the candidate will travel and conduct long and in-depth meetings with rated subnationals. He/she will also be expected to present credits to a rating committee and liaise with the marketing function. The job also requires preparation for, and attendance at, rating committees on subnationals from other geographic areas and contribution to internal discussions on rating issues.

Person Specification

It is important that the candidate is able to work independently while also being a good team player and able to cope with time pressure and deadlines, happy to travel and adapt to a mixed-cultural environment. A strong educational background with a minimum of a good first degree.

• Strong numeracy
• Robust analytical ability
• Concise written communication
• Fluent English and Spanish
• Post-graduate academic qualifications with Public Sector/Economics bias are particularly welcomed.
• Another European language is an advantage.
• Previous experience either in analysis of ratings, sovereign and subnational debt research or counterparty (sovereign and subnational) risk would be an advantage.