Curriculum Vitae

TODD A. SHIPMAN, CFA

tshipman@utility-credit.com

857.260.0656

EXPERIENCE

Utility Credit Consultancy LLC East Orleans, MA

Founder May 2018 - Present

Founded a consulting firm to provide utilities with expert witness services and advice on capital market strategies. Specialize in capital markets issues, credit rating advisory, and hybrid securities.

Boston University Boston, MA

Lecturer January 2017 - June 2020

Adjunct faculty member in the Questrom School of Business, Department of Finance. Taught advanced undergraduate finance courses covering capital markets, monetary and economic policy, and corporate finance.

S&P Global Ratings New York, NY and Boston, MA

Senior Director April 2014 - May 2018

Director April 2000 - April 2014

Associate Director March 1997 - April 2000

Sector Specialist on the Global Infrastructure Ratings North American Utilities team. Performed credit surveillance of utilities, pipelines, midstream energy, and diversified energy companies. Chaired most team rating committees. Wrote credit reports and commentaries and led outreach efforts to investors and the regulatory community, including speeches and training seminars. Lead analytical role developing global rating criteria for utilities, master limited partnerships, and hybrid capital securities.

Electric Utility Research Inc (defunct), San Francisco, CA

Senior Vice President May 1996 - March 1997

Edited and contributed to an investor newsletter covering the electric utility industry

Sithe Energies Inc. New York, NY

Manager, Regulatory Affairs November 1993 - May 1996

Managed state regulatory matters for a major independent power company. Coordinated interventions in regulatory proceedings. Assisted in identifying development opportunities. Participated in investor relations activities.

Regulatory Research Associates Jersey City, NJ

Vice President October 1993 - November 1993

Senior Analyst August 1989 - October 1993

Analyst August 1985 - August 1989

Analyzed and reported on actions by state regulators affecting the financial status of electric, gas, and telephone utilities for a firm that provided research to the Wall St. community. Contributed to the firm’s sell-side research.

Education

J.D., Texas Tech University School of Law, Lubbock, TX May 1984

B.B.A., Texas Christian University, Fort Worth, TX May 1981

Professional Affiliations & Other Activities

• Executive Advisor, Concentric Energy Advisors, Marlborough MA

• Chartered Financial Analyst

• Wall Street Utility Group

• Society of Utility and Regulatory Financial Analysts