US Rating Agencies Blamed For Subprime Market Woes

  • 02 Jul 2007
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Credit rating agencies are being blamed for failing to warn investors quickly enough of problems in the subprime mortgage market, but there may be more chapters to be written before the end is known for sure in this credit cycle.

With a wave of borrowers defaulting on subprime home loans, and two hedge funds managed by Bear Stearns suffering losses on bad bets on subprime-related securities, some on Wall Street and on Washington's Capitol Hill are criticising rating firms Moody's Investors Service and Standard & Poor's for retaining top grade ratings on many affected securities.

  • 02 Jul 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
  • Today
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%