S&P cracks whip on lumpy CMBS and downgrades two

Standard & Poor’s has announced a crackdown on lumpy European CMBS and has downgraded two of Europe’s largest deals in the sector.

  • 13 Nov 2009

S&P plans to revise its criteria for CMBS. It warned that CMBS with large single loan or asset exposures may not be able to achieve a triple-A rating.

The rating agency’s review covers those deals "dominated" by a single loan or with fewer than 20 loans, which accounts for ...

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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 %
  • Last updated
  • 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%