Pre-migration untagged articles

Fitch Ratings this week affirmed the special servicer ratings of Italian non performing loan management company Credit Servicing, after Morgan Stanley agreed to sell its 53% stake in the group to Pirelli RE, the company's other shareholder.

The name of Credit Suisse First Boston may walk Wall Street no more, but it has been back in the news recently as a triumphant Frank Quattrone, the former superstar technology investment banker at CSFB, walked across centre stage cocking a snook at the US judiciary and the prosecutors who have hounded him from pillar to post.

Minor currency issues dominated the EMTN market again this week. South African rand has been particularly popular, with a marked increase in transactions.

Banco Santander Central Hispano this week priced the first true covered bond benchmark of the last quarter of issuance, an Eu3bn dual tranche issue comprising five and long 10 year notes.

Some friends at Credit Suisse asked us why we have been so complimentary about their arch-rival, UBS. Yes, it was true that UBS had become a cash machine but it was not the most exciting bank in the world and much of its success was because it had been in the right place at the right time.

The US hybrid capital market is gearing up for an onslaught of new issues in September, buoyed by increasing signs that the National Association of Insurance Commissioners will more than likely water down its onerous classification process for hybrids this month.

In the structured EuroMTN market, interest rate-linked deals have given way to notes in different asset classes, including hybrid products and fund-linked notes.

The iTraxx indices edged tighter this week, taking solace from stronger equities and lower global bond yields.

Ten year euro asset swap spreads widened by 0.75bp yesterday (Thursday) as keen outright paying of this maturity took hold. At the close, the 10 year spread to the cheapest to deliver Bund was at 24.75bp.

Ten year euro asset swap spreads widened by 0.75bp yesterday (Thursday) as keen outright paying of this maturity took hold. At the close, the 10 year spread to the cheapest to deliver Bund was at 24.75bp.

Citigroup remains at the top of table one after 20 new issues this week. The bank was active in yen, leading a ¥5bn 20 year note for ABN Amro, a ¥2bn 20 year deal for RBS and a ¥2.5bn five year deal for America Honda Finance Corp.