Vertical Capital Receives CAM2 Rating

Fitch Ratings has assigned a structured finance collateralized debt obligation asset manager rating of CAM2 to Vertical Capital.

  • 04 Nov 2005
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Fitch Ratings has assigned a structured finance collateralized debt obligation asset manager rating of CAM2 to Vertical Capital. Vertical is an independent fixed income asset management company that specializes in structured financial securities with assets under management of more than $4 billion.

Fitch's grading scale is on a one to five rating with one being the highest rating. In company and management experience, Vertical received a 2.75; staffing was rated 2.25; procedures and control garnered a 2.75; portfolio management was rated 2.50; CDO administration was 2.50; technology was 2.25 and CDO performance was graded the highest at 1.50. Vertical received an overall grade of 2.25.

"Their performance is above average from firms that we've rated," explained Vince Matsui, an analyst at Fitch. "The reasons that they're not higher than they are is because they are still small and are relatively newer managers. There is bound to be some haircutting when you don't have a longer track record." Fitch started applying ratings to asset managers in November 2001 and since that time, 50 managers have been rated with 27 previous ones allowing the ratings to be made public. Vertical is in the process of creating several additional CDO funds. Officials at Vertical could not be reached for comment.

  • 04 Nov 2005

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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%