Jim Hempstead is a Managing Director in Moody’s Global Project & Infrastructure Finance Group, where he heads both the North American Regulated Utility & Power Team and the North American Public Infrastructure Team.

Jim acts as a rating chair across all segments of Moody’s Global Infrastructure & Project Finance franchise, and is a member of both the firm’s Infrastructure Finance Franchise Committee and Global Infrastructure Focus Editorial Board.

 Jim also manages the Moody’s Cyber Risk Team, which looks to incorporate cyber security risk into global credit analyses.

Jim helped manage the firm’s global Environmental, Social and Governance efforts between 2017 – 2020.

Prior to joining Moody’s in 2002, Jim was an investment banker with Merrill Lynch &Co., working in the Global Energy & Power Group, providing financial and advisory services to electric, natural gas distribution, interstate pipeline, energy merchant, water and energy technology companies. Prior to joining Merrill Lynch, Jim worked with Salomon Smith Barney Corporate Finance, working in their Global Energy &Power Group.

Jim graduated with a B.S.B.A. from Villanova University and an M.B.A. from Fordham University. From 2011 - 2013, Jim served as the Director of Emergency Management for his hometown in New Jersey, and is a registered EMT for his local, volunteer first aid squad. Jim is a member of the Wall Street Utility Group and served as a Trustee with the Society of Utility and Regulatory Financial Analysts (SURFA) between 2012 -2020. He served on the Advisory Council for the Electric Power Research Institute(EPRI) from 2014-2019.

Kurt Krummenacker is an Associate Managing Director in the Americas Project Finance and Infrastructureteam, which covers a portfolio of transportation, public power, and project finance inNorth and Latin America. Prior to joining Moody’s in March 2006, Kurt worked inseveral departments of the Port Authority of New York and New Jersey. Kurt is aretired U.S. Army Captain who served as a Blackhawk Helicopter pilot andcommanding officer of several aviation, logistics, and administrative units primarily inthe 101st Airborne Division. Kurt holds a BS in Economics from the United StatesMilitary Academy at West Point, a Master of Aeronautical Science from Embry-RiddleUniversity, and an MBA in Finance from the Columbia University Business School.

John is a Senior Vice President in Moody’s Global Project and Infrastructure Finance Team covering a diverse portfolio of project financings, public private partnerships (PPPs), and municipal infrastructure issuers in the transportation, energy and social infrastructure sectors. John chairs Moody’s Global PPP Task Force and is the sector lead for US toll roads, PPPs and generic project financings. John authors research across multiple sectors and annually leads several new rating assignments for new PPPs and project financings in the US and Canada. John was selected as one of the Bond Buyer’s 2017 Rising Stars. Before joining the Infrastructure and Project Finance Team in 2010, John spent two and a half years as a lead analyst for local governments and enterprises in the Eastern Regional Local Government Ratings Team where he was the lead for municipal issuers in Pennsylvania and New York while also covering New Jersey, Virginia, and Florida. Prior to joining Moody’s, John worked as a risk management analyst, a property and casualty insurance account manager, and a health care claims auditor. John is a founding member and was the first co-chair of Moody’s NY Multicultural Employee Resource Group and is a founding steering committee member of Moody’s NY LGBTA Employee Resource Group. John earned his BA degree in Health Care Economics and Policy from Stanford University and his MPA in Health Care Public Finance from New York University’s Robert F. Wagner Graduate School of Public Service.

Moses Kopmar covers credits for the US airports, seaports, social infrastructure, and toll roads, as well as related project finance issuers. Prior to joining the Project and Infrastructure Finance Team, Moses was on the Public Finance Local Governments Ratings Team covering cities, counties, municipal utilities, schools, special districts, and related issuers throughout the US.

Prior to joining Moody’s, Moses worked in economic development in the San Francisco Bay Area where he engaged in economic development, government affairs and policy research on behalf of private and public sector members. Moses holds an MPA in Public Finance from the Maxwell School of Syracuse University and a BA in English from Stanford University.

Kathrin Heitmann is an Associate Managing Director in the Corporate Finance Group (CFG) and heads the US Homebuilding Team. 

Immediately prior to her current role, Kathrin was a VP-Senior Creditor Officer in the Project and Infrastructure Finance Group, with responsibility for a portfolio of US infrastructure projects across the power, energy, and transportation sectors and the lead of Moody’s Project Finance Bank Loan default research.

Kathrin joined Moody’s in 2007 and has held various roles during her tenure, such as lead analyst for regional and local governments in Canada as well as for European heavy industrial corporations out of the Corporate Finance team in Germany. 

Kathrin is a certified Financial Risk Manager and a CFA charterholder. Kathrin is a Country Champion for Moody’s Network of CFA Charterholders (MNCC), a Mentor for Young Women in Finance, and Co-Treasurer of Dance/NYC, a NY non-profit. 

She studied business administration at UAM University in Madrid, Spain, and holds a Master’s degree in business administration from Johann Wolfgang Goethe University in Frankfurt, Germany.

Earl Heffintrayer is the U.S. airport sector lead analyst and covers a diversified portfolio concentrated in transportation. In addition to Earl’s work in the airport sector, he actively leads new ratings on bids in the US public private partnership market. Prior to joining Moody’s in June, 2011, Earl worked at the Port Authority of New York and New Jersey where he primarily analyzed alternative capital project delivery methods. Earl began his career as a civil engineer on large infrastructure projects in the New York City region. Earl is a CFA charter holder. Earl holds a BS in Civil and Environmental Engineering from the University of Rhode Island and an MBA from Stern School of Business at New York University.

A.J. Sabatelle is an Associate Managing Director in Moody’s Global Project & Infrastructure Finance Group where he manages the Project Finance Team for the Americas, including Latin America and Canada. A.J. also acts as a rating chair across all segments of the Global Infrastructure and Project Finance franchise, is a member of the Infrastructure Finance Franchise Committee and a member of the Global Infrastructure Focus Editorial Board.

A.J. joined Moody’s in 1997. For most of tenure at Moody’s, A.J. has been responsible for assigning ratings to and monitoring issuers across the electric power industry, including electric and gas utilities, independent power companies, and project finance transactions throughout North and South America. He has authored numerous research and rating methodology pieces covering the infrastructure and project finance sectors.

Prior to joining Moody’s, A.J. was a First Vice President and Manager of Mellon Bank’s Utilities and Project Finance Group. Before that, he was a Relationship Manager at Mellon Bank; and previously at Irving Trust Company, where in both cases he handled a portfolio of U.S. utility and energy companies.

A.J. holds an MBA in Finance from Stern School of Business at New York University and a AB in Economics from Columbia College, Columbia University.

Neil Mack is a Vice President - Senior Analyst on Moody’s Telecommunications/Media Team covering a portfolio of investment grade and high yield telecommunications companies. Prior to joining Moody’s in 2017 he held various positions in fixed income asset management, including at Citigroup Asset Management, Bear Stearns, AllianceBernstein and PartnerRe Asset Management. Neil is a CFA charter holder and a member of the New York Society of Security Analysts. He received his MBA in Finance from Columbia University and BA in English from Fordham University.

Jennifer Chang is a Vice President – Senior Credit Officer in Moody’s Sustainable Finance Group, with a primary focus in physical climate risks and materiality as it pertains to credit risks across various industries.

Prior to this group, Jennifer was the Public Power Sector Lead in the Global Project and Infrastructure Finance Group, and covered a range of infrastructure sectors including transportation, social infrastructure and power projects in the Americas. She also led new power project finance and public-private partnership rating assignments.

Jennifer launched the Infrastructure in Emerging Markets’ series, and is the author of several reports on PPPs, power and drillship transactions including special comments on airport concessions, express tolled lanes, credit enhancements and power project carbon transition. She recently published climate-related reports on physical climate risk assessments and credit impact of urban floods.

She is the receiver of three Moody’s Research Awards, including the report on Hydrogen – Electric Utilities and Power Projects. She is a frequent speaker and presenter at various industry conferences, including the US Department of Energy – Hydrogen Shot Summit in 2021. Prior to joining Moody’s, Jennifer worked at the World Bank as an energy finance specialist in the Latin American and Caribbean and Africa regions where she helped co-author the Brazil Low Carbon Case Study report, and worked on large scale electricity distribution rehabilitation projects in Brazil, Honduras and Malawi. Prior to the World Bank, Jennifer worked at BNP Paribas covering North American utilities, and at the Royal Bank of Scotland and at Credit Agricole covering media and telecom. She has a Bachelor of Science and Business Administration in Finance and Accounting from Drexel University and a Masters from the School of International and Public Affairs at Columbia University (SIPA) with a concentration in International Energy Management and Policy. She is currently pursuing a Certification in Sustainable Water Management from Columbia University.

Clifford Kim is a Vice President-Senior Credit Officer in the Global Infrastructure Finance Group. His responsibilities include assigning new ratings to power and infrastructure projects. He also serves as the lead analyst for project issuers including both fossil and renewable based power plants and a portfolio of public power issuers located in the U.S. Pacific Northwest. He has also authored Moody’s US Joint Action Agencies methodology and the ‘Breezing Past P50’ special comment on wind projects. 

Prior to joining Moody’s, he was an Associate Director in the Credit Risk Management group at WestLB AG responsible for the infrastructure, metals & mining, and hospitality sectors.

He holds a B.S. in economics from the Wharton School, University of Pennsylvania with a dual concentration in finance and management and is a CFA charterholder.

Toby Shea is a Vice President - Senior Credit Officer in the Moody’s Global Project & Infrastructure Finance Group. He is responsible for a portfolio of electric and gas utilities.

Prior to joining Moody’s, Toby worked for more than 15 years in the field of credit risk relating to energy and commodities, including Senior Credit Manager at Noble Group, Head of Credit and Portfolio Analytics at RBS Sempra and Director at Standard & Poor’s.

Toby graduated with a B.S. in Chemical Engineering from Johns Hopkins University and M.A. in International Relations from Tufts University’s Fletcher School.

Jim Hempstead is a Managing Director in Moody’s Global Project & Infrastructure Finance Group, where he heads both the North American Regulated Utility & Power Team and the North American Public Infrastructure Team.

Jim acts as a rating chair across all segments of Moody’s Global Infrastructure & Project Finance franchise, and is a member of both the firm’s Infrastructure Finance Franchise Committee and Global Infrastructure Focus Editorial Board.

 Jim also manages the Moody’s Cyber Risk Team, which looks to incorporate cyber security risk into global credit analyses.

Jim helped manage the firm’s global Environmental, Social and Governance efforts between 2017 – 2020.

Prior to joining Moody’s in 2002, Jim was an investment banker with Merrill Lynch &Co., working in the Global Energy & Power Group, providing financial and advisory services to electric, natural gas distribution, interstate pipeline, energy merchant, water and energy technology companies. Prior to joining Merrill Lynch, Jim worked with Salomon Smith Barney Corporate Finance, working in their Global Energy &Power Group.

Jim graduated with a B.S.B.A. from Villanova University and an M.B.A. from Fordham University. From 2011 - 2013, Jim served as the Director of Emergency Management for his hometown in New Jersey, and is a registered EMT for his local, volunteer first aid squad. Jim is a member of the Wall Street Utility Group and served as a Trustee with the Society of Utility and Regulatory Financial Analysts (SURFA) between 2012 -2020. He served on the Advisory Council for the Electric Power Research Institute(EPRI) from 2014-2019.

Kathrin Heitmann is an Associate Managing Director in the Corporate Finance Group (CFG) and heads the US Homebuilding Team. 

Immediately prior to her current role, Kathrin was a VP-Senior Creditor Officer in the Project and Infrastructure Finance Group, with responsibility for a portfolio of US infrastructure projects across the power, energy, and transportation sectors and the lead of Moody’s Project Finance Bank Loan default research.

Kathrin joined Moody’s in 2007 and has held various roles during her tenure, such as lead analyst for regional and local governments in Canada as well as for European heavy industrial corporations out of the Corporate Finance team in Germany. 

Kathrin is a certified Financial Risk Manager and a CFA charterholder. Kathrin is a Country Champion for Moody’s Network of CFA Charterholders (MNCC), a Mentor for Young Women in Finance, and Co-Treasurer of Dance/NYC, a NY non-profit. 

She studied business administration at UAM University in Madrid, Spain, and holds a Master’s degree in business administration from Johann Wolfgang Goethe University in Frankfurt, Germany.

Kurt Krummenacker is an Associate Managing Director in the Americas Project Finance and Infrastructureteam, which covers a portfolio of transportation, public power, and project finance inNorth and Latin America. Prior to joining Moody’s in March 2006, Kurt worked inseveral departments of the Port Authority of New York and New Jersey. Kurt is aretired U.S. Army Captain who served as a Blackhawk Helicopter pilot andcommanding officer of several aviation, logistics, and administrative units primarily inthe 101st Airborne Division. Kurt holds a BS in Economics from the United StatesMilitary Academy at West Point, a Master of Aeronautical Science from Embry-RiddleUniversity, and an MBA in Finance from the Columbia University Business School.

Earl Heffintrayer is the U.S. airport sector lead analyst and covers a diversified portfolio concentrated in transportation. In addition to Earl’s work in the airport sector, he actively leads new ratings on bids in the US public private partnership market. Prior to joining Moody’s in June, 2011, Earl worked at the Port Authority of New York and New Jersey where he primarily analyzed alternative capital project delivery methods. Earl began his career as a civil engineer on large infrastructure projects in the New York City region. Earl is a CFA charter holder. Earl holds a BS in Civil and Environmental Engineering from the University of Rhode Island and an MBA from Stern School of Business at New York University.

Moses Kopmar covers credits for the US airports, seaports, social infrastructure, and toll roads, as well as related project finance issuers. Prior to joining the Project and Infrastructure Finance Team, Moses was on the Public Finance Local Governments Ratings Team covering cities, counties, municipal utilities, schools, special districts, and related issuers throughout the US.

Prior to joining Moody’s, Moses worked in economic development in the San Francisco Bay Area where he engaged in economic development, government affairs and policy research on behalf of private and public sector members. Moses holds an MPA in Public Finance from the Maxwell School of Syracuse University and a BA in English from Stanford University.

John is a Senior Vice President in Moody’s Global Project and Infrastructure Finance Team covering a diverse portfolio of project financings, public private partnerships (PPPs), and municipal infrastructure issuers in the transportation, energy and social infrastructure sectors. John chairs Moody’s Global PPP Task Force and is the sector lead for US toll roads, PPPs and generic project financings. John authors research across multiple sectors and annually leads several new rating assignments for new PPPs and project financings in the US and Canada. John was selected as one of the Bond Buyer’s 2017 Rising Stars. Before joining the Infrastructure and Project Finance Team in 2010, John spent two and a half years as a lead analyst for local governments and enterprises in the Eastern Regional Local Government Ratings Team where he was the lead for municipal issuers in Pennsylvania and New York while also covering New Jersey, Virginia, and Florida. Prior to joining Moody’s, John worked as a risk management analyst, a property and casualty insurance account manager, and a health care claims auditor. John is a founding member and was the first co-chair of Moody’s NY Multicultural Employee Resource Group and is a founding steering committee member of Moody’s NY LGBTA Employee Resource Group. John earned his BA degree in Health Care Economics and Policy from Stanford University and his MPA in Health Care Public Finance from New York University’s Robert F. Wagner Graduate School of Public Service.

Toby Shea is a Vice President - Senior Credit Officer in the Moody’s Global Project & Infrastructure Finance Group. He is responsible for a portfolio of electric and gas utilities.

Prior to joining Moody’s, Toby worked for more than 15 years in the field of credit risk relating to energy and commodities, including Senior Credit Manager at Noble Group, Head of Credit and Portfolio Analytics at RBS Sempra and Director at Standard & Poor’s.

Toby graduated with a B.S. in Chemical Engineering from Johns Hopkins University and M.A. in International Relations from Tufts University’s Fletcher School.

Clifford Kim is a Vice President-Senior Credit Officer in the Global Infrastructure Finance Group. His responsibilities include assigning new ratings to power and infrastructure projects. He also serves as the lead analyst for project issuers including both fossil and renewable based power plants and a portfolio of public power issuers located in the U.S. Pacific Northwest. He has also authored Moody’s US Joint Action Agencies methodology and the ‘Breezing Past P50’ special comment on wind projects. 

Prior to joining Moody’s, he was an Associate Director in the Credit Risk Management group at WestLB AG responsible for the infrastructure, metals & mining, and hospitality sectors.

He holds a B.S. in economics from the Wharton School, University of Pennsylvania with a dual concentration in finance and management and is a CFA charterholder.

Jennifer Chang is a Vice President – Senior Credit Officer in Moody’s Sustainable Finance Group, with a primary focus in physical climate risks and materiality as it pertains to credit risks across various industries.

Prior to this group, Jennifer was the Public Power Sector Lead in the Global Project and Infrastructure Finance Group, and covered a range of infrastructure sectors including transportation, social infrastructure and power projects in the Americas. She also led new power project finance and public-private partnership rating assignments.

Jennifer launched the Infrastructure in Emerging Markets’ series, and is the author of several reports on PPPs, power and drillship transactions including special comments on airport concessions, express tolled lanes, credit enhancements and power project carbon transition. She recently published climate-related reports on physical climate risk assessments and credit impact of urban floods.

She is the receiver of three Moody’s Research Awards, including the report on Hydrogen – Electric Utilities and Power Projects. She is a frequent speaker and presenter at various industry conferences, including the US Department of Energy – Hydrogen Shot Summit in 2021. Prior to joining Moody’s, Jennifer worked at the World Bank as an energy finance specialist in the Latin American and Caribbean and Africa regions where she helped co-author the Brazil Low Carbon Case Study report, and worked on large scale electricity distribution rehabilitation projects in Brazil, Honduras and Malawi. Prior to the World Bank, Jennifer worked at BNP Paribas covering North American utilities, and at the Royal Bank of Scotland and at Credit Agricole covering media and telecom. She has a Bachelor of Science and Business Administration in Finance and Accounting from Drexel University and a Masters from the School of International and Public Affairs at Columbia University (SIPA) with a concentration in International Energy Management and Policy. She is currently pursuing a Certification in Sustainable Water Management from Columbia University.

A.J. Sabatelle is an Associate Managing Director in Moody’s Global Project & Infrastructure Finance Group where he manages the Project Finance Team for the Americas, including Latin America and Canada. A.J. also acts as a rating chair across all segments of the Global Infrastructure and Project Finance franchise, is a member of the Infrastructure Finance Franchise Committee and a member of the Global Infrastructure Focus Editorial Board.

A.J. joined Moody’s in 1997. For most of tenure at Moody’s, A.J. has been responsible for assigning ratings to and monitoring issuers across the electric power industry, including electric and gas utilities, independent power companies, and project finance transactions throughout North and South America. He has authored numerous research and rating methodology pieces covering the infrastructure and project finance sectors.

Prior to joining Moody’s, A.J. was a First Vice President and Manager of Mellon Bank’s Utilities and Project Finance Group. Before that, he was a Relationship Manager at Mellon Bank; and previously at Irving Trust Company, where in both cases he handled a portfolio of U.S. utility and energy companies.

A.J. holds an MBA in Finance from Stern School of Business at New York University and a AB in Economics from Columbia College, Columbia University.

Neil Mack is a Vice President - Senior Analyst on Moody’s Telecommunications/Media Team covering a portfolio of investment grade and high yield telecommunications companies. Prior to joining Moody’s in 2017 he held various positions in fixed income asset management, including at Citigroup Asset Management, Bear Stearns, AllianceBernstein and PartnerRe Asset Management. Neil is a CFA charter holder and a member of the New York Society of Security Analysts. He received his MBA in Finance from Columbia University and BA in English from Fordham University.