US Project & Infrastructure Finance – Credit Analyst, Director (Legal)

Job title: US Project & Infrastructure Finance – Credit Analyst, Director (Legal)

About the Role Fitch is seeking an Associate Director for a legal document review and analysis role within its Corporates Infrastructure & Project Finance Group, focused on Project & Infrastructure Finance. The position collaborates with the Complex Credit Group (CCG) to evaluate new and innovative project finance structures. A candidate with a legal background who can translate contractual terms and structural protections into clear, decision-useful views on cash flow stability, default risk, and recovery outcomes will thrive.

What You'll Do

• Review and interpret transaction documents to inform credit analysis by identifying key risks, mitigants, and watch items (financing agreements, security documents, intercreditor arrangements, and core project contracts).
• Produce clear, repeatable deliverables that translate documentation into analytical inputs, such as deal term sheets and key terms trackers; develop Key risks/mitigants issue-spotting memos for new transactions.
• Assess key quantitative and qualitative credit factors for individual transactions and issuers, including cash flow protections, counterparty risk, and enforceability considerations.
• Participate in meetings with project sponsors, developers, operators, legal, and other stakeholders.
• Educate and advise analytical colleagues by presenting your view on documentation, structural strengths/weaknesses, and areas of concern.
• Participate and vote in credit committees for infrastructure and project finance transactions.

What We're Looking For

• Experience practicing law or working as a paralegal at a law firm (project finance/infrastructure preferred).
• 4–7+ years of relevant experience (attorney or senior paralegal), preferably in project finance, infrastructure finance, structured/project debt, or capital markets.
• Deep familiarity with project finance documentation and structures, including common terms/credit agreements, intercreditor arrangements, security packages; cash flow waterfalls, covenants, events of default, cure rights, and remedies; direct agreements/consents and step-in frameworks; project documents (leases, PPAs, offtake agreements).
• Capital markets and/or credit analysis experience is a plus.
• Strong analytical, quantitative, and organizational skills; excellent written and verbal communication; ability to work effectively in a team; intellectual curiosity and motivation to analyze varied financing structures and asset types; flexibility and adaptability as priorities change.

Nice to Have

• Meaningful experience focused on project finance/infrastructure, including exposure to digital infrastructure, P3/PPP concession structures, and hybrid merchant/contracted revenue frameworks.
• Strong interest in capital structures, creditor protections, and recovery outcomes—and the ability to form an independent, well-supported view.
• Experience executing research projects from idea generation through writing and presenting externally.
• Outstanding interpersonal skills, including demonstrated leadership and effective engagement with internal and external stakeholders.

Compensation & Benefits

• For New York and Chicago roles only: base pay between $150,000 and $175,000 per year. Actual salaries determined on an individualized basis based on education, training, experience, performance, and other factors.