S&P slashes ratings of 35 synthetic CDO tranches

Standard and Poor’s downgraded the ratings of 35 different Asia Pacific synthetic CDO tranches this week, striking another blow to Asia’s struggling structured finance sector.

  • 29 Jan 2009
The agency made single notch downgrades to 12 tranches of Calyon’s Athenee CDOs, four of Morgan Stanley’s Aces vehicles, three notes of Echo Funding, two each of Castlereagh Trust, Corsair, Magnolia Finance, Obelisk Trust, Starts and one tranche each from the Beryl Finance, Castle Finance, Dragon AA, Eirles ...

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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 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 80,818.31 235 11.57%
2 Bank of America Merrill Lynch 66,338.04 186 9.50%
3 Wells Fargo Securities 56,344.19 164 8.07%
4 JPMorgan 53,381.65 156 7.64%
5 Credit Suisse 44,872.46 115 6.43%