Credit Analyst - Leveraged Loans / Middle Market

Responsibilities

• Cover stressed and distressed private filers across leveraged loans and high-yield bonds, from early signs of pressure through liability management and Chapter 11.
• Conduct deep-dive credit analysis across unfamiliar sectors and capital structures.
• Maintain an assigned coverage portfolio under continuous surveillance, tracking issuer performance, capital structure developments, sponsor actions, creditor group formation, court milestones, and rating actions.
• Identify issuers exhibiting early indicators of credit deterioration.
• Build and maintain financial models, including three-statement and forward models, and conduct recovery and waterfall analysis across the capital structure.
• Review credit agreements and indentures to determine borrower flexibility and implications for creditor groups.
• Conduct transaction and post-restructuring analysis covering new issues, amendments, exchanges, and emergence capital structures, including estimated recovery and return rates.
• Contribute to thematic and capital markets research addressing sector stress, maturity walls, and broader market trends.
• Write and publish research notes that lead with analytical conclusions and substantiate them with supporting data.
• Collaborate with legal analysts and reporters, supporting coverage with financial and quantitative analysis.
• Engage directly with subscribers, address inquiries on live situations, and present on client calls and webinars as required.

Requirements

• Two or more years of relevant credit experience, such as investment banking, restructuring advisory, direct lending, sell-side research, trading desks, buy-side credit funds, or rating agencies.
• Demonstrated financial modeling ability, including building three-statement and forward models from scratch.
• Strong writing skills and a deep understanding of accounting.
• Client-facing communication skills and a client-first mindset.

Preferred Qualifications

• Direct exposure to liability management exercises, restructurings, or Chapter 11 cases as a creditor, advisor, or lender.
• Familiarity with the end-to-end Chapter 11 process, including DIP structures, plan classification and voting, and valuation disputes.

Compensation and Benefits

• Base salary range: $90,000–$110,000.
• Eligible for an annual year-end performance bonus.
• Benefits include health benefits, matched 401(k) and pension plans, paid time off, parental leave, gym subsidies, educational reimbursements, and recognition programs.