Moody’s joins the crowd with Aussie RMBS review

Moody’s revealed plans to shake up its rating methodology for Australian residential mortgage-backed securities on Tuesday, plunging the ratings of several outstanding deals into doubt. But bankers are taking the review in their stride: Standard & Poor’s and Fitch are reassessing their own methodologies, and issuers and investors are already resigned to the upheaval.

  • 27 Jul 2011

Moody’s will publish specific proposals in late August, suggesting updates to its rating methodology that put more emphasis on risks to Australia’s housing market, in particular the possibility of big regional difference in mortgage delinquencies and house price rises.

The ratings agency will also look at the weighting ...

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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 117,520.50 339 11.05%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%