KBRA adds to private credit analysis team

KBRA has made three new senior appointments to private credit analysis team as the sector’s growth continues.

Scott Duggal, John Sage and Min Xu have all joined KBRA in a variety of roles.

Duggal has been appointed as a senior director in the fund ratings team. HE has more than 20 years of experience in credit, with a core focus on CLOs, RMBS, and ABS. Most recently he was lead ABS portfolio manager and head of European consumer ABS, RMBS, and CLO research at Abrdn.

Sage has also been named senior director, and he will lead KBRA’s private credit research efforts in collaboration with the company’s corporates, funds, financial, and structured credit teams.

He was previously a journalist at Bloomberg where he covered the private credit industry. Prior to that, he worked at Goldman Sachs in both the credit and investment banking functions.

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Meanwhile, Xu has joined KBRA’s funds team as a managing director, focusing on research efforts. She previously worked at Natixis, as the credit risk officer responsible for approving CLO/ABS warehouse financing and capital call facilities.

“KBRA has been building teams dedicated to analytical thought leadership across the broad landscape of private credit for many years,” said William Cox, global head of corporate, financial, and government ratings at KBRA.

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“These teams, their experience, and the accumulation of a vast amount of data provide KBRA with relatively unique insight into the broad landscape of the private credit market and its trends.

“We are very excited to have Scott, John, and Min join our expanding platform. Our goal is to continue to bring independent thoughtful insight, analytical consistency, and transparency to this rapidly growing, complex, and otherwise largely opaque industry.”

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