About Us

Our People

Analytical Team

Chris Cudsi – Director, Ratings
Chris Cudsi – Director, Ratings
  • Bachelor of Economics (Hons.) – Monash University

Chris Cudsi is an experienced credit analyst with specialist skills in rating companies and infrastructure and utility entities. In 2009, Chris established Tyber Capital, a firm providing independent and specialist corporate advisory, focusing on credit ratings, debt financing, and capital structure.

Prior to 2009, Chris was an Associate at Standard & Poor’s and was responsible for the credit ratings of companies and projects mainly in the energy, infrastructure, water, utilities, and airport sectors.

Chris has also worked as a policy analyst at the South Australian Department of Manufacturing, Innovation, Trade, Resources and Energy, Senior Economist at the Victorian Employers' Chamber of Commerce and Industry (VECCI) and as an analyst at Commonwealth Treasury.

Chris is an Associate of FINSIA, a Certified Finance and Investment Professional of INFINZ, a Certified Finance and Treasury Professional of FTA, and a member of the Economic Society of Australia.

Chris Dalton – Managing Director
Chris Dalton – Managing Director
  • Bachelor of Economics – Monash University
  • Master of Business Administration – Melbourne Business School
  • Graduate Australian Institute of Company Directors

Chris is a successful financial markets executive and business leader with considerable knowledge of Australian and global debt capital markets and Australia’s wealth management market.

Chris is the Chief Executive Officer (part-time) of the Australian Securitisation Forum (ASF). The ASF is an industry association representing the participants in the Australian securitisation market.

He was the Managing Director and Country Head of Standard & Poor’s (S&P). Chris was responsible for the management of S&P’s credit ratings, risk solutions, managed fund research, index services and financial data and information businesses in Australia and New Zealand. Chris joined S&P in 1990 and successfully established Standard & Poor’s as the leading ratings agency of mortgage and asset-backed securities. In 1994 he was appointed head of S&P Asia Pacific structured finance group responsible for the regional analysts in S&P Tokyo, Hong Kong and Melbourne offices. In 1997 Chris was received a McGraw-Hill award for management excellence and spent 3 years in senior management at S&P's head office in New York.

Before joining S&P, Chris held roles in corporate banking, treasury, technology and auditing with Elders Finance & Investment Company Ltd, Shell Australia Ltd and Coopers & Lybrand. 

Daniela Crisafi - Director Ratings
Daniela Crisafi - Director Ratings
  • Bachelor of Commerce, University of Melbourne
  • Master of Applied Finance, University of Melbourne
  • Graduate Diploma in Applied Finance & Investment, Securities Institute of Australia
  • Fellow, Financial Services Institute of Australasia
  • Risk Management Institution of Australasia

Daniela has more than 20 years' experience in assessing credit risk and assigning ratings in the Australian and European debt capital markets. Prior to joining Australia Ratings, Daniela was a senior analyst at Standard & Poor's working in the London and Melbourne offices. She has assessed and rated infrastructure, public private partnership (PPP) and leveraged securitised debt. Her experience includes a focus on operational and financial risks of government-owned and privatised entities. Whilst at Standard & Poor's, Daniela also worked with the Commonwealth Treasury in providing an assessment of enterprise-wide risk management practices of its agencies.

Philip Bayley – Director, Ratings
Philip Bayley – Director, Ratings
  • Bachelor of Business (Banking & Finance) – Monash University
  • Master of Business Administration – University of Melbourne
  • Fellow, Financial Services Institute of Australasia

Philip is the Principal of ADCM Services, publisher of The DCM Review an independent online commentary, analysis and data on Australia & New Zealand's debt capital markets. He is also a contributing editor to Banking Day. In 2014 Philip completed a PhD at Monash University, furthering his research into the domestic debt capital market.

Previously, Philip spent over 12 years working in and researching the Australian and New Zealand debt capital markets. Most recently, he was a Capital Markets Director at Standard & Poor’s, where he produced independent analysis and opinion on the debt capital markets, influencing the perceptions of market participants.

Philip spent 5 years at National Australia Bank as Head of Fixed Interest, Credit Research, with the National Australia Bank and before that was Head of Research at Westpac Banking Corporation.

Working in London in the mid to late 1990s, he monitored firsthand the development of the Euro corporate bond market in its current form, sparked by the imminent introduction of the euro. This provided Philip the inspiration and model for the work performed at Westpac and NAB.

With a 30 year career in banking and finance, Philip’s earlier roles focused on corporate and institutional banking, credit risk management, corporate finance and prior exposure to capital markets.

Renée Corcoran
Renée Corcoran
  • Honours Bachelor of Arts (Sociology) – McMaster University, Canada 
  • Master of Business Administration – McMaster University, Canada

Renée is an experienced banking and credit professional with considerable credit experience in the international structured finance arena. Before joining Australia Ratings, Renée spent nearly 5 years in the Capital Markets, Securitisation Team of Bayerische Hypo-und Vereinsbank (a top-tier German bank operating in the Asia-Pacific region). Renée worked on many high profile international securitisation transactions, including residential property and consumer finance. Through this role, she also conducted credit analytical work on CMBS, REITs, quasi-government infrastructure and other ABS.

Renee also spent 4 years in the underwriting and credit department as an Associate of MBIA (Singapore)/Asian Securitization and Infrastructure Assurance - a Singapore based monoline insurer. Renée was involved in the credit analysis and surveillance of the firm’s managed portfolio comprising fixed income exposures to banks, corporates, infrastructure, sovereign bonds and RMBS.

Communications & Media Manager

Sarah Dalton - Communications & Media Manager
Sarah Dalton - Communications & Media Manager
  • B.A (Monash University)
  • Master of Global Media Communication, Melbourne University

Sarah is responsible for the development and implementation of Australia Ratings’ communications and media strategy. She acts as a contact for media inquiries and coordinates with Irene Orillo-Gerrits to develop and implement social media activities.


Su-King Hii - Compliance Consultant
Su-King Hii - Compliance Consultant

  • B.LLB

Su-King is the Compliance Manager for Australia Ratings. Su-King is the Principal of Innoinvest Consulting, a specialist compliance and AFSL consultancy practice based in Melbourne. Su-King is a member of Australia Ratings Compliance Committee.


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