Rating Analyst - Local Governments Midwest

Americas Public Finance at S&P Global Ratings is an important sector of the capital markets, providing credit analysis that supports vital funding initiatives and serves as a growth driver for communities and economies across the region. The Local Governments Midwest Region team maintains a strong culture of analytical excellence and client service within a collaborative, diverse, and collegial environment that offers clear pathways for career advancement.

Impact

This role is central to maintaining S&P Global Ratings' market relevance and meeting transaction requirements across the local government sector. The Rating Analyst leads credit analysis for cities, counties, school districts, special districts, and related entities — delivering independent, committee-ready credit opinions that inform investor decisions and support capital formation. This is a junior-level position with strong expectations and meaningful opportunity for upward mobility through demonstrated analytical performance.

Responsibilities

• Serve as primary analyst on credit transactions, conducting comprehensive financial statement analysis and preparing well-supported rating recommendations and committee-ready credit reports for local government issuers.

• Assess historical and projected financial data, evaluate fiscal health and credit risk factors, and compile findings into thorough committee presentations and effective written analysis.

• Publish timely, insightful credit reports and contribute to relevant research pieces and sector publications, staying current on developments in the municipal bond market.

• Serve as an active, voting member of rating committees, contributing to deliberations on rating outcomes and reviewing materials prior to publication.

• Meet with issuers, participate in investor calls alongside senior analysts, and communicate complex analytical perspectives clearly to diverse audiences.

• Provide guidance and support to team members to maintain analytical quality and consistency across the portfolio.

• Contribute to team initiatives that improve processes, efficiency, and analytical workflows.

S&P Global states that the anticipated base salary range for this position is $63,000 to $90,000 USD. Final base salary for this role will be based on the individual's geographic location, as well as experience level, skill set, training, licenses and certifications. In addition to base compensation, this role is eligible for an annual incentive plan. This role is eligible to receive additional S&P Global benefits.

For more information on the benefits we provide to our employees, see

Required

Skills and Experience:

• An S&P Global employee at this level would typically have 2+ years of relevant experience in public finance, local government finance, or a related credit analysis discipline.

• Demonstrated credit analysis and financial statement analysis skills, with the ability to assess fiscal health, creditworthiness, and key credit risk factors for local government issuers.

• Effective written and verbal communication skills, with the ability to synthesize complex information for diverse audiences, including committee presentations and published credit reports.

• Demonstrated ability to manage multiple priorities, deliver high-quality work under deadline pressure, and exercise sound analytical judgment under general guidance.

• Demonstrated ability to work effectively in team environments and independently when required.

• Experience advising on complex local government finance issues and providing analytical perspectives to senior stakeholders.

• Demonstrated ability to build and maintain professional relationships across teams and functions.

• Initiative in identifying problems and contributing to process improvement efforts.

• Willingness to adopt evolving analytical workflows, including AI-supported tools and processes.

• Bachelor's degree or equivalent required. A master's degree or professional certification (such as CFA) is highly valued. We welcome candidates from traditional finance disciplines as well as diverse academic backgrounds that support innovative and critical thinking.

• We require all candidates who reach the final stage of our interview process to attend at least one in-person interview, which is…