Rating Analyst - Local Governments Midwest

S&P Global, Inc.; Chicago (IL); On-site; USD 63,000 - 90,000; Full time

Benefits offered by this job

Health & Wellness

Flexible Downtime

Continuous Learning

Invest in Your Future

Family Friendly Perks

Beyond the Basics

Job summary

S&P Global Ratings is seeking a junior Rating Analyst to support the Local Governments Midwest Region. You will conduct credit analysis for cities, counties, school districts, and related entities, delivering independent opinions that inform investor decisions and capital formation.

Responsibilities include primary analysis on transactions, preparing written reports, and presenting findings to rating committees.

Qualifications

• Junior‑level position with strong expectations and upward mobility through demonstrated analytical performance.
• Lead credit analysis for local government issuers and prepare committee‑ready credit reports.

Responsibilities

• Serve as primary analyst on credit transactions and prepare rating reports for local government issuers.
• Assess historical and projected financial data to evaluate fiscal health and credit risk factors.
• Publish timely credit reports and contribute to research pieces in the municipal bond market.
• Meet with issuers and participate in investor calls; communicate complex analyses clearly.

Skills

Credit analysis

Financial statements

Written reports

Stakeholder engagement

Credit rating

Job description

About the Role

Grade Level (for internal use): 09 The Team 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.

Responsibilities and 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

Core Analytical & Delivery

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.

Stakeholder & Market Engagement

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.

Team Contribution & Capability Building

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.

Compensation/Benefits Information (US Candidates)

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.

Benefits

• Health & Wellness: Health care coverage designed for the mind and body.
• Flexible Downtime: Generous time off helps keep you energized for your time on.
• Continuous Learning: Access a wealth of resources to grow your career and learn valuable new skills.
• Invest in Your Future: Secure your financial future through competitive pay, retirement planning, a continuing education program with a company‑matched student loan contribution, and financial wellness programs.
• Family Friendly Perks: It’s not just about you. S&P Global has perks for your partners and little ones, too, with some best-in class benefits for families.
• Beyond the Basics: From retail discounts to referral incentive awards—small perks can make a big difference.

Additional Information

We require all candidates who reach the final stage of our interview process to attend at least one in‑person interview, which is ordinarily at your nearest S&P Global Ratings office. This must be completed before we can proceed to an offer. Employees are required to work from the office a minimum of two days per week.

Right to Work Requirements

This role is limited to persons with an indefinite right to work in the United States.

About S&P Global Ratings

At S&P Global Ratings, our analyst‑driven credit ratings, research, and sustainable finance opinions provide critical insights that are essential to translating complexity into clarity so market participants can uncover opportunities and make decisions with conviction. By bringing transparency to the market through high‑quality independent opinions on creditworthiness, we enable growth across a wide variety of organizations, including businesses, governments, and institutions. S&P Global Ratings is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/ratings.

What’s In It For You?

Our Mission: Advancing Essential Intelligence. Our People: We're more than 35,000 strong worldwide—so we're able to understand nuances while having a broad perspective. Our team is driven by curiosity and a shared belief that Essential Intelligence can help build a more prosperous future for us all. From finding new ways to measure sustainability to analyzing energy transition across the supply chain to building workflow solutions that make it easy to tap into insight and apply it. We are changing the way people see things and empowering them to make an impact on the world we live in. We’re committed to a more equitable future and to helping our customers find new, sustainable ways of doing business. Join us and help create the critical insights that truly make a difference.

Our Values

• Integrity
• Discovery
• Partnership

Global Hiring and Opportunity at S&P Global

At S&P Global, we are committed to fostering a connected and engaged workplace where all individuals have access to opportunities based on their skills, experience, and contributions. Our hiring practices emphasize fairness, transparency, and merit, ensuring that we attract and retain top talent. By valuing different perspectives and promoting a culture of respect and collaboration, we drive innovation and power global markets. S&P Global has a Securities Disclosure and Trading Policy ("the Policy") that seeks to mitigate conflicts of interest by monitoring and placing restrictions on personal securities holding and trading. The Policy is designed to promote compliance with global regulations. In some Divisions, pursuant to the Policy’s requirements, candidates at S&P Global may be asked to disclose securities holdings. Some roles may include a trading prohibition and remediation of positions when there is an effective or potential conflict of interest. Employment at S&P Global is contingent upon compliance with the Policy.

Equal Opportunity Employer

S&P Global is an equal opportunity employer and all qualified candidates will receive consideration for employment without regard to race/ethnicity, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, marital status, military veteran status, unemployment status, or any other status protected by law. Only electronic job submissions will be considered for employment. If you need an accommodation during the application process due to a disability, please send an email to:[e-mail] your request will be forwarded to the appropriate person.

US Candidates Only: Know Your Rights

Workplace discrimination is illegal.

Job Details

20 - Professional (EEO-2 Job Categories-United States of America), RATNGS202.1 - Middle Professional Tier I (EEO Job Group) S&P Global enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape. From helping our customers assess new investments across the capital and commodities markets to navigating the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world’s leading organizations to unlock opportunities, solve challenges, and plan for tomorrow – today.