Synthetics ratings fears after Lehman ruling

Recent bankruptcy court rulings where Lehman Brothers was a counterparty to CDOs may lead to a cap on ratings for synthetic securitisations with US counterparties, according to Fitch.

  • 21 Aug 2009

The agency said, however, that any rating action "is by no means inevitable or imminent" as the outcome of the legal battles are uncertain.

"If the rulings are ultimately in favour of Lehman, and no other counterparty risk mitigants are present in the transactions, then Fitch will cap the ...

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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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%