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 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%