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 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
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%