SME ABS holds up well but periphery still under pressure

The stability of European SME ABS ratings has been high since 2007, despite the deepening economic troubles countries in the region face, Moody’s said in a report released on Monday. It also warned, though, that more downgrades were likely this year, especially in peripheral Europe.

  • 15 Apr 2013
Rating downgrades came about because of two factors, Moody’s said. The first was a methodology update in 2009 in response to the worsening economic backdrop to capture increased probabilities of default in an economic downturn. This led to a spate of 2009-2010 downgrades. UK ratings were hardest hit. ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 82,406.77 239 12.85%
2 Bank of America Merrill Lynch 71,317.58 219 11.12%
3 Wells Fargo Securities 62,984.09 198 9.82%
4 JPMorgan 45,920.23 145 7.16%
5 Credit Suisse 37,235.50 114 5.81%