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 Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%