Fitch Downgrades European Bank Hybrids

Fitch Ratings has downgraded the hybrid securities of European banks, including Lloyds Banking Group, Royal Bank of Scotland and ING Group, among others.

  • 21 Aug 2009
Fitch Ratings has downgraded the hybrid securities of European banks, including Lloyds Banking Group, Royal Bank of Scotland and ING Group, among others. According to Fitch, the downgrades reflect heightened risk from deferred interest payments following the European Commission’s clarification on bank hybrid capital and how it applies ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 118,616.77 341 11.09%
2 Bank of America Merrill Lynch 94,721.79 272 8.85%
3 JPMorgan 92,612.23 269 8.66%
4 Wells Fargo Securities 82,597.19 239 7.72%
5 Credit Suisse 70,475.74 184 6.59%