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

Acuity Analytics; Bengaluru; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

A financial analytics firm in India is seeking an experienced Fixed Income & Credit Research Analyst to engage in fundamental credit analysis and valuation. You will build financial models, prepare detailed credit memos, and perform peer benchmarking. The ideal candidate has strong analytical skills and a commitment to delivering results within tight deadlines while learning and growing in their field. This role provides exposure to distressed and special situations, ideal for those looking to enhance their expertise in credit research.

Qualifications

• Experience with DCF and relative valuation methods.
• Ability to screen loan and bond documents.
• Skilled in analyzing M&A and LBOs.
• Proficient in peer benchmarking and competitive analysis (profitability, leverage, FCF, capex).

Responsibilities

• Build bottom-up financial models with forecasts.
• Perform peer benchmarking and comp analysis.
• Prepare credit memos capturing risks and trends.
• Analyze distressed/special situations as needed.
• Model default and recovery scenarios.

Skills

Fundamental credit analysis

Financial modeling

Valuation techniques

Peer benchmarking

Pro forma leverage analysis

Credit documentation review

M&A / LBO analysis

Distressed / special situations

Default & recovery modelling

Deadline-driven delivery

CFA familiarity

Education

CFA designation or progress

Tools

Excel

Financial modeling tools

Job description

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

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.

Core Credit Research

• Build bottom-up financial models with forecasts (3‑statement, segment-level, KPI based) including liquidity, leverage, recovery analysis and coverage forecasts.
• 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.