Standard & Poor's Ratings Services has boosted its U.S. industrials ratings practices from three departments to five and appointed three new directors.
The rating agency is restructuring its two industrial practices and its utilities, energy and project finance practice into five new departments: manufacturing and transportation; technology, media and telecoms; commodities and basic industries; consumer, retail and healthcare; and utilities.
The manufacturing and transportation practice will be headed by Thomas Kelly, who previously led the industrials I and utilities, energy and project finance practices. Nicholas Riccio will manage the technology, media and telecoms, having previously headed up the former industrials II practice.
They are joined by Andrew Watt, who was promoted from being a team leader in the utilities, energy and project finance to lead commodities and basic industries. Kenneth Drucker is moving from his role as team leader in consumer products to take charge of the consumer, retail and healthcare practice.
Steven Dreyer will take charge of the utilities practice. He previously worked in the financial services group where he was regional practice leader for the U.S. insurance company practice.
All will be based in New York, and report to managing director John Bilardello.
Bilardello said: "The number of entities rated by the U.S. industrials team and the analytical and research staff have grown, while our analytical, surveillance and communication standards have increased substantially. The expansion to five practices with five practice leaders will allow the industrials team management to remain integral to the analytical process while being closer to our corporate executive and investor customers."
Separately, Fitch Ratings has appointed four new directors to its U.S. public finance group.
Maura McGuigan joins Fitch's tax exempt housing group. McGuigan spent 13 years at Moody's Investor Services, most recently as a vice president and senior credit officer in the public finance group. Anthony Houston joins after serving as a senior associate of health industries advisory with accounting firm PricewaterhouseCoopers. At Fitch, Houston will concentrate on healthcare.
Sandy Matthews will focus on higher education. Matthews formerly was a vice president at Neuberger Berman. Alan Gibson will become a part of the tax-supported/water and sewer group. Gibson previously was a budget, legislative, and program analyst for accounting organizations Harvey M Rose Accountancy and the San Francisco Board of Supervisors Budget Analyst's Office.