Joseph Staffa Joins Fitch Ratings as Senior Director in Municipal Structured Finance Group.

NEW YORK -- Fitch Ratings announces that Joseph Staffa has joined the Municipal Structured Finance team as a Senior Director reporting to Trudy Zibit, Managing Director in Fitch's Public Finance group. Mr. Staffa joins Fitch after 18 years with Moody's Investors Service where he most recently served as a Vice-President and Senior Credit Officer. Mr. Staffa's appointment is a newly created position and is effective immediately.

'With his many years of experience on the ratings agency side of the business, Joe will be able to provide the highest level of expertise possible to the public finance team,' said Mike Belsky, Group Managing Director of the Public Finance group. 'As the municipal market becomes more and more complex, our team needs the seniority and wide array of knowledge that Joe will provide in order to enhance our service to investors and market participants.'

'Joe's deep experience working within the municipal structured finance and housing sectors will undoubtedly enhance our public finance business,' said Trudy Zibit. 'In addition to his hands-on experience in these sectors within the municipal market, his extensive law background is a real plus as complex deals continue to be very document driven. The addition of his expertise provides us with an effective opportunity to expand Fitch's market position.'

While at Moody's as Vice-President and Senior Credit Officer, Mr. Staffa provided legal counsel for the Municipal Structured Product group, and prior to that the Corporate Structured Finance area, in addition to analyzing a variety of municipal structured finance transactions and deals in the housing sector. Mr. Staffa played a critical role in reviewing sophisticated investment and financing deals.

'I am excited to join Fitch's prestigious group of experts in the public finance market' said Joseph Staffa. 'As the municipal market continues to rapidly evolve in structured finance, it couldn't be a more exciting time for me to join the firm. Mike has built a very strong foundation with this team and I am looking forward to contributing to the advancement of Fitch's position in the marketplace.'

Prior to joining Moody's in 1988, Mr. Staffa held legal counsel positions at Industrial Development Bond Insurance Managers, Inc., The City of New York, Division of Real Property, and the St. Paul Insurance Companies. He received his Juris Doctor from New York Law School and his Bachelor of Arts in Political Science from Fordham University.

Mr. Staffa is a member of the New York State Bar, and the U.S. District Courts Bar for the Southern and Eastern Districts of New York.

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