The Investment Grade Credit Analyst position provides an opportunity for the successful candidate to join our existing Global Credit Research team, partnering with an experienced group to cover a sub-set of the European Investment Grade investment universe. The individual will research new issues and existing investment grade bonds as well as monitor the performance of portfolio holdings under assigned sector coverage, providing independent credit risk assessments and specific investment recommendations to the broader Fixed Income platform.

Principal Responsibilities

• Conduct independent, fundamental credit research.
• Analyze and explain economic, competitive, cyclical, structural, regulatory and political drivers that impact a borrower’s ability and willingness to repay its debt.
• Interact with management teams, credit analyst peers, rating agencies, sell-side analysts, and other TRP investment professionals, including Fixed Income, Equity and Responsible Investing analysts.
• Create historical and projected financial models, analyzing key financial metrics to differentiate improving from deteriorating credits.
• Assimilate and filter various sources of information to develop well-researched short- and long-term perspectives, resulting in the assignment of TRP credit ratings, investment conviction ratings, and investment recommendations incorporating the fundamental, technical and valuation outlook on sectors and issuers.
• Produce and communicate regular forecasts of bond performance in selected credits. Develop and apply relative value metrics, seeking investments that generate consistently strong risk-adjusted returns from a global opportunity set, including across different currencies.
• Communicate credit opinions and investment recommendations orally and in writing to Portfolio Managers, traders, other TRP analysts, credit and advisory committees and external clients. Work within often tight time constraints to discuss recommendations first-hand with Portfolio Managers based globally.

Qualifications:

Required:

• At least 3 years of investment grade credit research experience.
• Experience understanding and evaluating company creditworthiness of issuers across the broader European non-financial investment grade investment universe.
• Experience with financial statement modelling and analysis.
• Inquisitive nature, driven to excel in all aspects of the analytical process. Flexible, responsive and self-starting personality with keen attention to detail. Open-minded thought process and intellectual honesty.
• Willingness to pursue and explore ideas and potential investment opportunities, supporting one’s ideas to questioning by Portfolio Managers and other analysts.
• Excellent communication skills, written and verbal.
• Self-starter who initiates and maintains active communication, especially with peers in other locations.

Preferred:

• Knowledge and experience covering Industrials and/or Utility Sectors
• CFA

Commitment to Diversity, Equity, and Inclusion:

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, colour, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.