Credit ratings exit op?
Joined as an infra credit rating junior at a Big-3 CRA for around a year, would like to learn more about the exits.
Saw on LinkedIn there were people who moved to infrastructure coverage (M&A/debt advisory). However spoke with a headhunter with many years of exp, that he was never able to place people from CRAs to M&A.
I do understand from this forum that structured finance exits are pretty common, but how difficult would it be to break into a coverage team with such a background?
Bump
I worked at one. Common exits for analysts included high yield credit research, LevFin credit risk, private credit investing, fixed income portfolio management. You might be noticing a theme...
There were also random one offs like IB coverage, wealth management, consulting. Pure m&a not a great fit since you would be lacking in a ton of skill areas.
I left to credit risk and moved to LevFin IB.
Mind me asking, did you work in ABS/structured products, or in an industry coverage team?
I actually worked in both but spent most of my time in corporates. I did not care for ABS. Moving from structured finance ratings to a structured finance origination banking position is achievable. I saw that done.
Guessing you ended up making the move?
Went to corporate development relating to my sector coverage. Possible to still move to lending/financing related to my coverage later I guess. But as a direct lateral, people from my group went mostly to either corporate development or debt portfolio management.. If you cover generic corporate, there is a better chance to be picked up for ratings/debt advisory. And FYI talking about London.
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