CHICAGO — Chicago-based veteran analyst Peter Stettler has joined the municipal research team at BMO Capital Markets.
Stettler joined the Municipal Credit Analytics group in the bank’s Chicago office as a director last month. His hiring brings the group’s number to four. The group is led by Kathleen Evers.
Stettler’s “mandate includes coverage of transportation, public utilities and general municipal credit,” reads a company announcement.
Stettler spent 10 years at Fitch Ratings where he specialized in transportation credits — including airports, seaports, and toll roads. He also worked on general municipal credits while at Fitch.
Prior to joining Fitch, Stettler spent six years at the former Everen Securities Inc. in the municipal research department.
He left Fitch in 2008 to join the Chicago-based Ricondo & Associates Inc., an aviation consulting firm, as a director. During his tenure at Ricondo, he helped prepare financial feasibility studies to support bond transactions for airports including Chicago’s O’Hare International Airport, Midway Airport and John F. Kennedy International Airport. He also worked on the preparation of benchmarking studies, the development of financial management plans, and assisted in ratings presentations.
Stettler is also a frequent speaker at industry conferences and the author of numerous special reports on the effects of United Airlines’ bankruptcy on special facilities revenue bonds and how cash reserves held by airports impact their credit ratings.
“Peter’s work has been acknowledged by industry peers through several awards, including the Award for Excellence from the National Federation of Municipal Analysts,” the firm said the announcement.
Sources said Stettler made the move in part because of the opportunity to return to again covering general municipal credits.