US Rating Agencies Blamed For Subprime Market Woes

  • 02 Jul 2007
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Credit rating agencies are being blamed for failing to warn investors quickly enough of problems in the subprime mortgage market, but there may be more chapters to be written before the end is known for sure in this credit cycle.

With a wave of borrowers defaulting on subprime home loans, and two hedge funds managed by Bear Stearns suffering losses on bad bets on subprime-related securities, some on Wall Street and on Washington's Capitol Hill are criticising rating firms Moody's Investors Service and Standard & Poor's for retaining top grade ratings on many affected securities.

  • 02 Jul 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,505.59 4 20.86%
2 SG Corporate & Investment Banking 1,292.64 1 17.91%
2 Rabobank 1,292.64 1 17.91%
4 Wells Fargo Securities 760.56 2 10.54%
5 BNP Paribas 598.25 2 8.29%