Euro Tranches Whacked By S&P Criteria Change

Standard & Poor’s has placed almost 2,000 European securitization tranches on creditwatch negative after its beefed-up counterparty criteria kicked in earlier this week.

  • 20 Jan 2011

—Hugh Leask

Standard & Poor’s has placed almost 2,000 European securitization tranches on creditwatch negative after its beefed-up counterparty criteria kicked in earlier this week. Europe has suffered disproportionately because of a greater use of swap counterparties in asset-backed securities, among other things, but Barclays Capital analysts in London ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 96,825.42 274 13.25%
2 Bank of America Merrill Lynch 88,553.28 260 12.12%
3 Wells Fargo Securities 69,233.98 214 9.48%
4 JPMorgan 51,109.98 163 6.99%
5 Credit Suisse 41,447.11 125 5.67%