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Walter Winrow
Managing Director - Global Project and Infrastructure Finance

William Hunter
Senior Credit Officer

William L. Hess
Managing Director - Utilities

Chee Mee Hu
Managing Director - Project Finance

Monica Merli
Managing Director - Infrastructure Finance

Andrew Davison
Senior Vice President

Terry Fanous
Associate Managing Director

Infrastructure & Project Finance

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Moody's Global Infrastructure Finance Group combines the expertise of a global team of analysts with extensive backgrounds in Public Finance, Corporate Finance, and Structured Finance to rate debt issued by both public and private infrastructure and project finance issuers and electric, gas and water utilities. This includes project finance entities that are limited to a special purpose by law, regulation, or contracts; infrastructure projects and enterprises financed in the U.S. tax-exempt market; and all corporate infrastructure and utility companies. Our approach allows market participants to benefit from a globally consistent and transparent methodological approach to assessing credit risk across the entire asset class.


  • 24 Jul 2015
    • Coal-fired power plants won't soon be replaced by alternative sources
      Coal will constitute a large share of US electricity supply for a while: The high cost of replacing coal-fired power plants; uncertainty about additional environmental regulations; and state regulations that favor the “least cost” option for generation. In addition, continued use of coal-fired generation is credit positive for coal-dependent cooperatives, municipalities and investor-owned utilities... Full Report
  • 16 Jul 2015
    • Answers to frequently asked questions about FirstEnergy Corp.
      In March, FirstEnergy Corp.'s (Baa3 stable) new management provided earnings guidance for 2015 that fell short of our forecasts. We took no rating action on the company at that time. In this report, we address several frequently asked questions about First Energy's strategy and key credit drivers over the next several months... Full Report
  • 7 Jul 2015
    • Stable outlook for Australian airports, but individual airport performance will diverge
      A stable operating environment and revenue growth in the low-to-mid single digits support our stable outlook for the Australian airport sector. More challenging conditions in the domestic sector, however, will only partially offset growth in international passenger volumes, leading to greater divergence in the performance of individual airports...Full Report
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