Fitch sounds off on methodology, ratings shopping in RMBS

Once dominated by the ‘big three’ agencies, the RMBS ratings industry has welcomed new entrants into the market after the financial crisis tarnished incumbents’ reputations. But Fitch Ratings told investors this week to be wary of the competition.

  • By Alexander Saeedy
  • 15 Aug 2018

In a report published on Wednesday, Fitch analysts said that as the market has grown to include newer entrants such as Morningstar Credit Ratings and Kroll Bond Rating Agency, ratings have become increasingly idiosyncratic.

“Broader participation by more agencies has created a notable increase in the incidence of ‘split’ ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78