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 ...

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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 %
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  • Today
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%