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Senior Covenant Analyst (Leveraged Finance)

Requisition ID:  46335
Business Unit:  Fitch Solutions
Category:  Credit Analysis & Research
Location: 

New York, NY, US Chicago, IL, US Los Angeles, CA, US

Date Posted:  Jan 24, 2024

Senior Covenant Analyst

 

Exciting opportunity to be a covenant analyst for our market leading leveraged finance intelligence team at Covenant Review. We are seeking seasoned leveraged finance lawyers (either high yield bonds or leveraged finance loans) to join our team as Senior Covenant Analysts. The role will involve writing research that is consumed by a broad spectrum of market participants including investment funds, law firms, and sell-side financial institutions.

 

A keen eye for detail, issue spotting, transaction structuring (“Can they do it?”), transaction deconstruction (“How did they do that?”), and excellent writing are necessary skills for this role.  The key skill set, however, is the ability to deconstruct complex issues or contract provisions and summarize them in concise but precise language that is understandable by the most junior research analyst and sophisticated enough for the most senior law firm partner.  We expect that candidates for this role have deep familiarity with high yield bond indentures and/or credit agreements. 

 

The compensation for this position is competitive with in-house legal positions of similar seniority.  Our covenant analysts work fixed hours, with no late night or weekend work.  In addition, our analysts get all the benefits of working for Fitch Solutions, a leading financial information services company, while at the same time being immersed in Covenant Review’s start-up culture.

 

Responsibilities

  • Write research reports on incurrence based covenants.  Our analysts follow a name from cradle (new issuance) to grave (bankruptcy).
  • Write event-driven research and reports on special situations as they develop in the market.
  • Write research for our growing library of covenant primers targeted at our less sophisticated subscribers. Write market leading reports that set the conversation on new trends and market developments.
  • Engage with our subscribers as they seek clarification on our research or discuss potential transactions.
  • Establish credibility in the market as a subject matter expert on high yield indentures.
  • Meet tight deadlines for publication.

 

Requirements

  • Law degree. Member in good standing of the New York Bar.
  • 5+ years of experience in leveraged finance.
  • Extensive experience drafting, negotiating, and reviewing leveraged finance documentation, including either credit agreements and indentures.
  • Deep understanding of the leveraged finance market and how covenants and financial definitions work in leveraged finance documents.
  • Solid business acumen with commercial sensibilities.
  • Experience communicating with business principals on complex leveraged finance issues.
  • Experience working on deadline.

 

Why Fitch?

At Fitch Group, the combined power of our global perspectives is what differentiates us. Our global network of colleagues comes together to accomplish things greater than they ever could alone.

Every team member is essential to our business and each perspective is critical to our success. We embrace a diverse culture that encourages a free exchange of ideas, guaranteeing your voice will be heard and your work will have an impact, regardless of seniority.

 

We are building incredible things at Fitch and we invite you to join us on our journey.

Fitch Solutions provides data, research and analytics that help clients excel at managing their credit risk, offer deep insight into the debt investment market and provide comprehensive intelligence macroeconomic environment. All available on our platform, Fitch Connect, designed and built using our credit, macro and industry expertise to help you make more informed decisions.

 

For more information please visit our websites:  

www.fitchratings.com | www.fitchsolutions.com | www.fitchlearning.com | www.creditsights.com

 

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 Group is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

 

Salary (NY ONLY):

Expected base pay rates for the role will be $275,000 per year. Actual salaries will be determined on an individualized basis and may vary based on factors including but not limited to education, training, experience, past performance, and other job-related factors. Base pay is one part of Fitch’s total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, long-term incentives, and other benefits sponsored by Fitch.

 

About CreditSights

Smart research guiding global credit investments. Founded in 2000, CreditSights is a leading provider of independent corporate bond research. Over 10,000 investment professionals and risk managers at over 1,000 institutions worldwide use our research every day. CreditSights actively covers over 1,100 investment grade and high yield companies More than 300 research reports are produced every month. Over 80 top caliber analysts around the world produce our acclaimed research. Our proprietary risk models cover over 8,500 publicly-traded companies CreditSights independent research is a leading voice in global credit markets, with our experts contributing to market news in Bloomberg, The Wall Street Journal, Forbes, Financial Times, Business Insider, Barron’s and many more. Our global institutional client base includes banks, investment advisors, mutual funds, pension managers, insurance companies, hedge funds, private equity investors, and corporations. CreditSights Wealth, an affiliate of CreditSights, makes our leading research more accessible and affordable for wealth advisors.

 

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Nearest Major Market: Manhattan
Nearest Secondary Market: New York City

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