Europe’s securitisation market continues to enjoy low levels of default rates compared to the US, according to a new study by Standard & Poor’s.
The report, entitled Pre-Crisis European Structured Finance Still Exhibits Few Defaults, found that 38.1bn ($50bn) out of an original issuance volume of almost 2.8tr had defaulted by the end of 2012, translating into just 1.37% of all structured finance notes rated by S&P outstanding in mid-2007 at the
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