Ratings Associate - Project & Infrastructure Finance in City of London

At Moody's, we unite the brightest minds to turn today’s risks into tomorrow’s opportunities. We do this by striving to create an inclusive environment where everyone feels welcome to be who they are—with the freedom to exchange ideas, think innovatively, and listen to each other and customers in meaningful ways. Moody’s is transforming how the world sees risk. As a global leader in ratings and integrated risk assessment, we’re advancing AI to move from insight to action—enabling intelligence that not only understands complexity but responds to it. We decode risk to unlock opportunity, helping our clients navigate uncertainty with clarity, speed, and confidence.

We are seeking candidates who model our values: invest in every relationship, lead with curiosity, champion diverse perspectives, turn inputs into actions, and uphold trust through integrity.

Skills & Competencies

• Relevant experience (including internships)
• Excellent verbal, written, and interpersonal communication skills
• Proficiency in MS Excel, Word, and PowerPoint
• Proactive approach and ability to work effectively in a collaborative team environment
• Strong organizational skills, analytical thinking, and attention to detail
• Ability to adapt to a changing environment and prioritize tasks effectively
• Basic understanding of fixed income markets and/or credit concepts
• Strong modeling experience, including project finance and/or regulated industries
• Demonstrated interest in utilities and/or infrastructure industries
• Python and SQL skills preferred
• Accounting knowledge with a strong focus on financial analysis (e.g., through coursework, CFA or equivalent, or relevant work experience)
• Basic understanding of artificial intelligence concepts, with curiosity and enthusiasm for learning how AI tools can be used to improve processes and drive efficiency.
• Interest in exploring AI systems and a willingness to develop awareness of responsible AI practices, including risk management and ethical use

Language requirements

• Fluency in English is essential.
• Fluency in Spanish, French or German preferred

Education

• Minimum Bachelor’s Degree or equivalent qualification with a strong academic record
• Master’s or equivalent qualification preferred

Years of Experience

• 1+ years of relevant experience, ideally in credit analysis within related industry sectors from a recognised financial institution or an audit firm.

General Responsibilities

• Portfolio Management & Credit Quality
• Working with lead analysts by performing day-to-day credit analysis related to ratings, research, presentations, and investor outreach.
• Examples of analytical work may include:

• Reviewing financial spreadsheets and charts, analyzing data and financial statements, building and updating financial forecasts, and writing analytical commentary in accordance with Moody’s methodologies
• Assisting with proprietary models and new financial projections as applicable, identifying trends in data, and applying analytical skills and judgment to form well-reasoned credit conclusions
• Developing a working knowledge of credit fundamentals through a review of components such as transaction documentation, cash flow analysis, or loss allocation rules
• Performing analytical tasks related to portfolio reviews and other credit projects
• Developing a working knowledge of Moody’s methodologies and credit rating best practices, and applying these with guidance from lead analysts
• Collaborating with lead analysts in preparing the first draft of rating committee memos
• Developing the ability to understand and identify key factors that affect issuer credit ratings.
• Interpreting and analysing financial data and other credit inputs provided by internal and external parties
• Monitoring credit quality and issuer and/or industry trends by following market developments and relevant news events, analysing issuer reporting (including, in some rating groups monitoring and attending earnings calls), and engaging with issuers directly for follow‑up clarification and information
• Attending and participating in rating committee meetings, including to offer analysis and opinion where appropriate.
• Preparing credit estimates analysis used to assess elements of credit risk in certain rated transactions

What to Expect

• Support Analysts on work related to credit ratings, research, and market outreach
• Analyse data and financial documents, prepare and run financial models and forecasts
• Draft rating committee memos; attend and participate in rating committee meetings
• Draft and help publish credit research reports
• Monitor market developments and news to assess credit quality and industry trends
• Attend investor and issuer meetings as required; help prepare presentations
• Continuous development of your professional skills through training and hands‑on work
• Learn about sustainability, cyber risk, private credit and local financial markets

About the Team

The Ratings & Research Support (RRS) team at Moody's plays a critical role in ensuring the smooth operation of the ratings and research process and supporting various analytical departments. The Ratings Associate will work closely with credit rating analysts to ensure that all tasks related to credit ratings, research, and market outreach are completed efficiently and effectively. This role is essential in maintaining the overall productivity and organisation of the ratings process, and it supports the larger team by ensuring that all analytical needs are met promptly and accurately.

Moody’s Project and Infrastructure Finance Group Sectors:

• Electric, gas and water utilities
• Project/concession financings in the infrastructure sectors (toll roads, railroads, airports, seaports, hospitals, etc.)
• Financings of natural resource and energy projects, including power projects and renewable energy projects
• Stadiums, lotteries, and other limited recourse concession‑type financings

Equal Opportunity Employer

Moody’s is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, national origin, disability, protected veteran status, sexual orientation, gender expression, gender identity or any other characteristic protected by law.