Moody’s Places Euro CDOs On Review For Downgrade

Moody’s Investors Service placed 40 tranches in six European collateralized debt obligation worth €1.33 billion ($1.94 billion) on review for downgrade as the underlying portfolios experienced credit deterioration.

  • 13 Nov 2007
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-- Leo Shvartsman

Moody’s Investors Service placed 40 tranches in six European collateralized debt obligation worth €1.33 billion ($1.94 billion) on review for downgrade as the underlying portfolios experienced credit deterioration. “The most negatively impacted are those containing U.S. ABS CDOs and 2006 U.S. subprime RMBS assets that were originally rated Baa or below, due to the greater severity of downgrades already experienced by these securities,” Moody’s analysts said. Moody’s officials did not immediately return phone calls.

Baker Street Finance Limited, Baker Street USD Finance Limited, Clifton Street Finance Limited, Hanover Street Finance Limited, Pembridge Square Finance Limited, Regent Street Finance Limited all saw multiple tranches of their notes downgraded. Moody’s downgraded 120 CDOs worth about $28 billion about two weeks ago.

  • 13 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%