DBRS taps Steven Bavaria to lead entry into leveraged finance rating business

By Angela McDaniels

Seattle, Sept. 5 - DBRS announced the appointment of Steven Bavaria as managing director of leveraged finance. Bavaria will be based in New York and will lead DBRS' entry into the leveraged finance rating business.

Prior to joining DBRS, Bavaria launched the bank loan rating business at Standard & Poor's 12 years ago, according to a company news release.

"High-yield finance, especially the leveraged loan market, has been the fastest growing segment of the corporate debt market," Peter Bethlenfalvy, group managing director at DBRS, said in the release.

"We are proud to have Steve, a seasoned industry expert, join our team and believe that investors in leveraged finance will welcome a fresh, innovative look at the leveraged finance ratings business," Bethlenfalvy added.

"I am very excited about joining DBRS," Bavaria said in the release. "DBRS is a highly respected company and has proven to be very competitive with larger peers."

DBRS said that in addition to his work at S&P, Bavaria spent 19 years as a corporate banker, two with Citibank as deputy director of Citicorp Institute for Global Finance, and 17 years with Bank of Boston. He is a graduate of Georgetown University and the New England School of Law.

DBRS is a rating agency based in Toronto.

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