Project Finance and Infrastructure - Associate/Associate Director (NY)

About the role

Kroll Bond Rating Agency (KBRA) is seeking an Associate or Associate Director to join its Project Finance & Infrastructure Ratings team within the Corporate, Project Finance & Infrastructure group. The successful candidate will lead and support new rating assignments and ongoing surveillance across a range of project finance and infrastructure sectors. The role will involve significant responsibility for transaction analysis, rating recommendations, and execution of the rating process, as well as direct interaction with senior KBRA staff and external market participants. The candidate will also contribute to the development of junior analytical staff and broader team initiatives. This position is based in KBRA’s New York City office.

Responsibilities

• Lead and execute new rating assignments and ongoing surveillance across project finance and infrastructure sectors, including renewable energy, conventional power, transportation, digital infrastructure, social infrastructure, and public-private partnerships (PPPs).
• Analyze project cash flows, financial models, financing and transaction structures, legal documentation, engineering and technical reports, and key contractual arrangements.
• Review and challenge sponsor financial models and develop independent base case, sensitivity, and downside stress scenarios to assess debt service capacity and credit risk.
• Evaluate key project risks, including construction, operational, counterparty, regulatory, market, and refinancing risks, as applicable.
• Develop rating recommendations and prepare and present transaction analysis to KBRA rating committees.
• Draft and review rating reports, press releases, surveillance reports, and research publications.
• Lead surveillance of assigned credits,