Covenant Concerns Hit Spec-Grade Liquidity Ratings

Moody's Investors Services downgraded three companies' speculative-grade liquidity rating to the lowest notch, SGL-4, on concerns of potential covenant violations on their credit facilities.

  • 20 Mar 2008
Moody's Investors Services downgraded three companies' speculative-grade liquidity rating to the lowest notch, SGL-4, on concerns of potential covenant violations on their credit facilities. Newspaper publisher The McClatchy Co., technology and engineering company Alion Science and Technology and professional services company Human Touch were downgraded over concerns that ...

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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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 98,446.48 276 13.35%
2 Bank of America Merrill Lynch 90,174.33 262 12.23%
3 Wells Fargo Securities 70,282.48 216 9.53%
4 JPMorgan 51,967.93 167 7.05%
5 Credit Suisse 41,447.11 125 5.62%