Fitch: Raphael to retire, Moro to become head of U.S. public finance

By Tali Rackner

Norfolk, Va., Oct. 13 – Fitch Ratings managing director and head of U.S. public finance Richard Raphael is retiring after nearly 27 years at the firm, according to a press release.

Jessalynn Moro succeeds Raphael as head of U.S public finance.

“Rich has played an important role in Fitch’s success and growth in U.S. public finance over the years, having joined in 1989 as head of the local government group and later as head of the states group. We deeply appreciate his significant contributions to Fitch, as well as to public finance more broadly,” global group head of public finance and infrastructure Dan Champeau said in the release.

The agency said it expects to engage Raphael in the future as an independent consultant on environmental, social and governance and impact investment initiatives, among other projects.

Moro was formerly head of the local government ratings group in U.S. public finance. She has held various analytical and leadership positions during her more than 16 years at Fitch, the release said. Moro will report to Champeau.

Laura Porter, currently head of Fitch’s U.S. state ratings group, succeeds Moro as head of the U.S. public finance local government team. Porter, who has been with Fitch for more than 10 years, remains head of the state ratings group in addition to her new responsibilities.

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