Venezuela downgraded as transition hopes vanish

Last year’s rally in Venezuelan bonds as Hugo Chávez neared the end of his tenure as president looks to have been even more misguided than some in the market had feared. Standard & Poor’s on Monday downgraded the sovereign from B+ to B.

  • By Mark Baker
  • 18 Jun 2013

New president Nicolás Maduro has dashed any hopes of a transition to a more market-friendly economy or better growth environment, with S&P blaming challenges to the implementation of economic policies for the downgrade. The rating agency maintains Venezuela on a negative outlook.

Venezuelan government bonds had rallied towards ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 09 May 2017
1 Barclays 8,822.61 13 9.07%
2 Citi 8,720.21 11 8.97%
3 BNP Paribas 8,107.13 11 8.34%
4 HSBC 7,792.06 12 8.01%
5 JPMorgan 6,400.12 9 6.58%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 May 2017
1 JPMorgan 25,552.69 63 5.96%
2 Citi 24,119.11 60 5.63%
3 Deutsche Bank 17,545.97 37 4.09%
4 HSBC 16,628.60 40 3.88%
5 Barclays 13,251.34 33 3.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 May 2017
1 Barclays 20,074.83 45 4.44%
2 JPMorgan 19,043.02 43 4.21%
3 BNP Paribas 17,726.77 29 3.92%
4 Bank of America Merrill Lynch 14,783.86 38 3.27%
5 HSBC 14,593.04 47 3.22%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 JPMorgan 39,067.52 180 8.50%
2 Citi 32,458.25 115 7.06%
3 Barclays 30,658.65 76 6.67%
4 Deutsche Bank 29,302.58 107 6.38%
5 HSBC 28,071.48 101 6.11%