BI Analyst Briefing: Autopalooza 5

Stephen Brown

Director

Fitch Ratings

Stephen Brown is a Senior Director in Fitch Ratings’ corporate finance group with lead analytical responsibility for Fitch’s coverage of North American auto manufacturers and suppliers. He also has secondary analytical responsibility for the transportation and environmental services sectors. Prior to joining Fitch in 2004, Stephen spent six years at United Airlines where he was responsible for the financial planning and analysis functions of the company’s Marketing, Sales, Reservations, and North America divisions. He also worked in the airline’s Capital Planning group. Stephen began his finance career at General Motors’ Delphi Saginaw Steering Systems division, conducting financial analyses on the unit’s worldwide operations. Stephen has a B.S. in Speech degree from Northwestern University and an MBA from the University of Rochester’s Simon Business School.

Nishit K. Madlani

Senior Director, Sector Lead North American Autos & Business/Technology Services, Corporate Ratings

S&P Global

Nishit K. Madlani works as Sector Lead for North American Autos & Business/Technology Services in the Corporate Ratings team at S&P Global Ratings Services, based in New York. Nishit covers the U.S.‐ based auto manufacturers and also provides portfolio coverage and commentary on rating issues and trends in Autos and Business & Technology Services within North America. The role also involves developing market engagement plans and working with cross‐sector analysts and practices on analytical issues to author thought leadership on relevant sector and credit themes. Prior to moving to S&P Global (New York) in 2010, Nishit worked as a Lead Analyst in the Global Analytical Centre at CRISIL Ltd., Mumbai, India (an S&P Global Company) for 5 years where he was involved with supporting the credit analysis and published research across industry sectors, with a focus on Autos. Nishit holds a Master of Management Studies Degree with First Class Honors in Applied Economics and Finance from the University of Waikato, Hamilton, New Zealand and Bachelor of Commerce Degree from Mumbai University, India.

JOEL LEVINGTON

Credit Research Director Global

BLOOMBERG/ INTELLIGENCE NEW YORK

Joel Levington is a director of credit research for Bloomberg Intelligence specializing in global automotive, industrial and aerospace and defense companies, as well as North American railroads. He has covered a broad range of industries. Prior to joining Bloomberg, he was a managing director and credit analyst for Brookfield Asset Management, where he managed a long-short CDS book, co-managed a total return fund, and led the CORE credit team. Before that, he was a director at Standard & Poors, following capital goods and automotive credits. Joel earned a master’s degree in corporate finance from the University at Buffalo and a bachelors of science in accounting and economics from Bradley University. He is a Certified Management Accountant (CMA) and a member of the New York Society of Security Analysts (NYSSA).

Rene Lipsch

Vice President - Senior Credit Officer

Moody's Investors Service

Rene Lipsch is a Vice President – Senior Credit Officer at Moody’s Investors Service. He is responsible for a portfolio of North American automotive and capital goods companies, after having first covered the surface transportation sector at Moody’s. Prior to joining Moody’s in 2013, Rene spent nine years in investment banking in London, in the Equity Capital Markets team at Credit Suisse and in the Corporate Finance team at Merrill Lynch. Previously, he was a Dutch and international tax advisor with Loyens & Loeff in Rotterdam and Hong Kong. Rene holds a M.Sc. in Finance from London Business School and a M.Sc. in Economics from Erasmus University in Rotterdam.

David Binns

Director, Corporate Ratings

S&P Global Ratings

David Binns is a Director in the Corporate Ratings Group of S&P Global Ratings. He joined S&P Global Ratings in 2016 with a focus on Autos and Auto Suppliers in his current role on the Transportation team. Previously, David worked as an investment advisor at FGM Partners in Brazil and spent 10 years as an investment analyst on the buy-side at Seminole Capital and SLS Capital. Prior to these roles, he worked as an implementation specialist at Financial Models Corp (now SS&C). David holds a Bachelor of Science in Physics from the State University of New York at Geneseo and a Master of Science and Engineering from Stanford University. He is a former Fullbright Scholar and a CFA charterholder