S&P Rating Change Seen Harming TALF

Standard & Poor’s announced changes to its rating model could have a negative impact on the Federal Reserve’s Term Asset-Backed Securities Program, say analysts at JPMorgan Chase.

  • 27 May 2009
Standard & Poor’s announced changes to its rating model could have a negative impact on the Federal Reserve’s Term Asset-Backed Securities Program, say analysts at JPMorgan Chase. S&P’s shift in policy could result in downgrades of 90% of the best commercial mortgage-backed securities made in 2007 and 25% ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%