Fitch Downgrades More Than $35 Bln Of SF, TruPS CDOs

Derivative Fitch last week downgraded $30 billion structured finance collateralized debt obligations and placed on watch for downgrade $5.4 billion of CDOs backed by trust preferred securities issued by real estate investment trusts.

  • 26 Nov 2007
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--Aaron Johnson

Derivative Fitch last week downgraded $30 billion structured finance collateralized debt obligations and placed on watch for downgrade $5.4 billion of CDOs backed by trust preferred securities issued by real estate investment trusts. The structured finance CDO downgrades complete a review of all Fitch-rated CDOs, which resulted in a total of $67 billion of CDO tranches being downgraded.

Merrill Lynch underwrote roughly $12 billion of the 74 structured finance CDOs downgraded, followed by UBS and Credit Suisse with $5 billion and $3 billion each, respectively. The TruPS CDOs include deals from the Attentus, Kodiak and Taberna series, which have already been downgraded by Standard & Poor’s (TS, 9/19).

Fitch officials were not immediately available and a Merrill spokeswoman declined comment. Credit Suisse and UBS spokesmen did not return calls.

  • 26 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%