Buy-side Fixed Income & Credit Research Analyst (Associate / Senior Associate / Delivery Lead)

Job Title Buy-side Fixed Income & Credit Research Analyst

(Associate / Senior Associate / Delivery Lead) Location:

Bengaluru, Pune, Gurgaon [Hybrid] Team:

Credit Research / Fixed Income

Role Summary We are looking for a

Fixed Income & Credit Research Analyst

to do fundamental credit analysis with knowledge of DCF and relative valuation.

Key Responsibilities/Role requirements Core Credit Research Build

bottom-up financial models

with forecasts (3‑statement, segment-level, KPI based) including liquidity, leverage, recovery analysis and coverage forecasts. Conduct

capital structure analysis : debt stacks, ranking/priority, guarantees, collateral, structural subordination, etc. Valuation: Bonds and loans

relative value, spread analysis, recovery waterfalls, EV/EBITDA, DCF, and scenario-based pricing. Prepare credit memos which capture credit risks, mitigants and view on the trend of credit fundaments of the issuer. Perform

peer benchmarking and comp analysis

(profitability, leverage, FCF conversion, capex intensity, credit metrics). Ability to review news/events and a provide view/impact on the issuer Ability to screen

loan and bond documents : credit agreements, indentures, offering memoranda, amendments/waivers, intercreditor agreements, compliance certificates and company filings etc.

Special Situations / Event-Driven Analyze

M&A, LBOs, spin-offs, asset sales,

assess pro forma leverage/coverage, covenant headroom, and refinancing risks. Assist with

distressed/special situations

work: restructuring frameworks, recovery analysis, covenant reviews, liquidation vs. going-concern outcomes. Model

default and recovery scenarios , including waterfall analysis across the capital structure. Exposure to US HY and Distressed sector and or CFA would be an added advantage

Professional Skills:

Ability to take prioritize and successfully follow through on tasks; deliver results within stringent deadlines during live deals. The ideal candidate should also show a desire for achievement and commitment to the investment process and to learn and grow their expertise in the field.