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Subprime Exposure Cost FGIC Its Ratings

Exposure to subprime mortgage, asset-backed securities and collateralized debt obligations have cost FGIC Corp. its ratings again.

  • 25 Mar 2009
Exposure to subprime mortgage, asset-backed securities and collateralized debt obligations have cost FGIC Corp. its ratings again. Moody’s Investors Service lowered its insurance financial strength ratings on two of the bond insurer’s unit two notches to Caa3, or highly speculative. The move comes after FGIC, once rated triple ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
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1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%