Hi,
Has anybody got experience in a ratings advisory team at an IB ? I was wondering what the working hours are like and the typical day for an analyst? Is it client-facing at a relatively junior level?
Also, what kind of career progression can you expect after ratings advisory? Would credit research on sell-side or buy-side be an option?
Thanks for your answers !
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Work hours would have to be better than IBD, since the ratings group really only performs one function and won't be asked to do other analyses, reformat presentations, etc. The position is not very client facing at the senior level, much less the junior level.
Credit analysis experience can be applied in a lot of different areas: ratings agencies, buy-side investing, research, corporate banking, commercial banking. That said I'm not sure how good the entry-level experience would be at a ratings advisory group vs. actual lending/rating decisions.
LevFin vault guide gives a pretty decent overview of that function in an investment bank
Thank you, guys
Can you elaborate on why the role is not very client facing, even at a senior level? I would imagine that you have to deal with the client directly to let him know what impact a bond/equity offering or even acquisition might have on its credit rating and then give advice on the best capital structure? Do you mean "not very client facing" because apart from these specific events, you won't be in touch with the client?
The reason it's not very client facing is b/c the IB team is usually in between the ratings group and the actual client. They share some company info with the ratings guys and then ask for feedback that they can relay to the client. The feedback is straightforward so there's usually no need for the ratings people to be present at meetings.
the ratings group doesn't really do work on optimal capital structure - their job is just to predict how S&P/Moodys/Fitch will react when new information about the company comes out.
Citigroup Capital Structure & Ratings Advisory Group within IBD (Originally Posted: 02/28/2007)
Hi,
what does the Ratings Advisory group within IBD of Citigroup do?
What kind of skills do you learn?
Is it beneficial for restructuring, lev. finance, HF, PE , treasury at a corporate?
Thanks
I'm interested in this topic too. Any one knows about this group care to explain a bit more? Much appreciated.
IB Ratings Advisory (Originally Posted: 10/22/2008)
IB Ratings advisory and capital structure, how are those groups viewed from bank to bank? great group to work in? what would the work entail?
anyone?
Ratings Advisory - Info? (Originally Posted: 02/01/2010)
What is Ratings Advisory? What do they do within DCM? Is this considered investment banking? What are common exits?
bump
Ratings advisory will not give you the same exit ops as investment banking. In my experience working with them, ratings advisory is a cushy job at the VP / ED / MD level. They're typically ex S&P / Moody's guys who can examine the rating (cost of debt) impact of additional leverage, usually in association with some sort of acquisition. Basically, they try to optimize the capital structure for the transaction by looking at a few metrics (interest coverage, leverage ratios, cash flow predictability, etc) so that the company can retain its current credit rating while taking on additional leverage.
Doesn't really seem worthwhile at the analyst level.
Ratings Advisory - Active in organization (Originally Posted: 03/01/2007)
Ratings Advisory is very active in origination and execution of deals covering multiple sectors and capital markets products. Ideal position for Ibanking Analyst 1-2 years out of undergrad seeking to broaden experience, exposure, and responsibility. Work closely with financial sponsors on LBO transactions as well as large corporates and energy/project finance. Small team results in broad responsibility and direct client contact. Group sees good deal flow. Strong modeling and powerpoint skills required. Ibanking/Fixed Income Research/Rating Agency background would be positive, as is experience in leverage finance.
bump
I don't understand the point of this post
is this a good job in IBD?
I'm immediately suspicious of anyone purporting to have serious knowledge of leveraged finance who calls it "leverage finance". That also ticks off our Lev Fin guys to no end.
Exits?
Rating Advisory Analyst Hours at IB (Originally Posted: 08/30/2014)
Hi,
I've come across a Rating Advisory Analyst position within the Global Finance Dept of an IB, which I am very interested in. One thing I'm curious about is the hours it involves. Would anyone be able to advise of the typical hours please? I'm only concerned as I've a minor medical issue where I've been advised to work my work-life balance so the hours can be a sticking point for me.
Any advice greatly appreciated!
Sorry but can anyone give their verdict on this please?
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