Moody's expects fewer fallen angels as sovereigns, markets recover

Moody’s expects fewer companies to become ‘fallen angels’ in 2013 and 2014 than last year, as financial markets improved in the first nine months of 2013 and global economic prospects have begun to pick up.

  • By Stefanie Linhardt
  • 30 Oct 2013

The euro area economy managed to grow its GDP in the second quarter, thanks to growth in France and Germany and more modest declines in Italian and Spanish GDP. Spain has since pulled itself out of recession, while Italy is expected to do so in the fourth quarter.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Jan 2017
1 CITIC Securities 1,560.67 2 10.70%
2 SG Corporate & Investment Banking 1,445.74 4 9.92%
3 Wells Fargo Securities 1,187.61 3 8.15%
4 Rabobank 1,081.86 1 7.42%
5 Bank of America Merrill Lynch 831.08 4 5.70%