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 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

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1 Citi 117,398.62 338 11.04%
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%