S&P Downgrades Continue, Distressed Funds Wait

As downgrades continue – S&P downgraded $30 billion of CDOs last week – many distressed funds continue to sit dormant and should continue to do so for the time being.

  • 20 Feb 2008

--Aaron Johnson

Citigroup and Merrill Lynch had $6.6 billion and $4.8 billion, respectively, of collateralized debt obligations downgraded so far this week by Standard & Poor’s, which downgraded a total of $25 billion of CDOs of asset-backed securities today and Tuesday.

As downgrades continue – S&P downgraded $30 billion ...

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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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%