Standard & Poor’s will keep ratings on two of Basis Capital’s hedge funds on hold after the rating agency met with members of Basis’ management, according to Thomson Financial. Basis missed margin calls last week following downgrades on some U.S. subprime assets and collateralized debt obligations. “This meeting has provided us with a greater understanding of the current issues, the suspension of redemptions, net asset value calculation difficulties,” said Greg Barr, S&P fund analyst. The rating agency will review the ‘on hold’ rating once the hedge fund manager provides more details. Investors have almost A$700 million ($619.36 million) invested in the two funds.
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Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Bank of America Merrill Lynch||16,385.65||54||9.19%|
|4||Wells Fargo Securities||16,128.82||45||9.05%|