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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 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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For detailed analysis: Dealogic
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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%