Duties & responsibilities

Acts as analyst for infrastructure and project finance credit ratings, with a focus on asset-based and project finance transactions

Performs analysis and research on new and existing infrastructure and project finance transactions in different sectors, under appropriate senior guidance

Analysis involves quantitative and qualitative aspects and may require visiting project sites around Europe

Reviews project agreements, financing documents, key contracts and legal frameworks to identify structural strengths and weaknesses of the rated credit exposure

Supports the definition of stress assumptions for the assessment of performance under credit impairment event scenarios

Modifies and runs project cash-flow models to incorporate the relevant stresses and obtains the expected loss under stress of rated instruments under different scenarios

Contributes to rating reports and sector research on credit risk in the context of infrastructure and project finance and its trends

Participates in rating committees and may present analytical findings





Supports investor, issuer and sponsor outreach and the development of sector expertise

4+ years of post-graduate professional experience in a major rating agency, bank, financial advisory firm or investor credit risk team, with a clear focus on infrastructure and project finance

Good financial modelling skills, including the ability to analyse project cash flows and apply rating stresses under appropriate senior guidance

Knowledge of and relevant experience in at least one infrastructure and project finance sector; rolling stock experience is an advantage

Bachelor's or master's degree in engineering, business, economics, finance or a related quantitative discipline, complemented with rigorous education in finance

Familiarity with project finance funding instruments such as term loans, project bonds and revolving facilities

Understanding of the relevant legal and regulatory environment

Ability to

📌 Senior Analyst (Madrid)
🏢 Scope Ratings
📍 Madrid