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 ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

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
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%