For Meghan Neenan, her career in credit began not with a grand plan, but with a love of numbers and a nudge from the right mentor at the right time.

“I always liked math, but I didn’t think I wanted to teach it,” she says. “So, I decided to pursue a degree in accounting and business administration.”

While working as a bank teller during college, Meghan’s branch manager encouraged her to apply for a role at the Federal Reserve Bank. That decision proved pivotal. She was hired as a bank examiner and enrolled in a three‑year rotational credit training program, an experience that laid the foundation for everything that followed.

“I really liked digging into company financials and meeting with management teams to understand their businesses,” she reflects. “That’s what really launched my interest in the credit markets.”

She spent three years as a bank examiner before pursuing an MBA and moving into equity research, covering banks. But it wasn’t long before she realized where her true interests lay.

“The fixed income market is far larger than the equity market,” she explains. “I wanted to be somewhere our views would be impactful, with strong access to management.”

That insight led her to Fitch Ratings. Although she initially expected to join the bank ratings team, the only opening at the time was in non‑bank financial institutions, a move that ultimately set the direction of her career.

“Twenty years later, I’m still here,” she says. “The breadth of coverage in non‑bank financials, which has evolved enormously since the global financial crisis, has given me a constant opportunity to learn and grow as an analyst.”

Advice for aspiring professionals

Asked what makes someone successful in credit, Meghan is clear: technical skills matter, but mindset matters more.

“Curiosity and conviction are two of the most important qualities you can have,” she says. “As a credit analyst, you’re always focused on downside risk. You have to play devil’s advocate and ask the tough questions about how a credit story could evolve.”

That curiosity must be paired with strong analytical discipline. For Meghan, conviction doesn’t mean stubbornness, it means forming a clear, defensible view grounded in detail.

“You need to enjoy digging into financial statements and debt documents,” she explains. “Your conviction should be supported by thorough diligence and analytical work, and it should get stronger as you gain experience.”

For those considering a career in credit, Meghan’s advice is simple.

“Ask questions. And then ask more questions!” she says.

She points to the cyclical nature of credit markets as a reminder that experience, even second‑hand experience, is invaluable.

“Mark Twain said that history doesn’t repeat itself, but it often rhymes. That’s true of credit cycles too. You can learn a lot by talking to more tenured colleagues and asking about what they’ve seen before.”

A leadership role with impact

Today, Meghan serves as North American Head of Non‑Bank Financial Institutions at Fitch Ratings, a role she describes as both her favorite and her most significant.

She leads a team of 32 analysts covering a diverse range of subsectors, including investment managers, hedge funds, pension funds, business development companies (BDCs), securities firms, financial market infrastructure companies, and consumer and commercial lenders and lessors.

“Our work spans ratings, issuer and sector research, and ongoing dialogue with investors,” she explains. “We’re constantly sharing our views on individual companies, industry trends, and broader economic developments.”

One area Meghan is particularly proud of is Fitch’s longstanding work on business development companies. These are what many now recognize as a core part of the private credit market.

“Fitch has been rating BDCs for more than 20 years,” she notes. “What was once a niche subsector has grown to more than $500 billion in assets.”

Over time, Fitch has become a leading voice in the space, publishing in‑depth research, engaging with market participants, and hosting its own Annual BDC Conference.

“I’m especially proud of the work we’ve done during periods of volatility,” Meghan says. “That’s when investors need clarity the most, and that’s where thoughtful, consistent credit analysis really matters.”