Credit - 2009-02-01

Deals of the Month: Staples

One of the most encouraging aspects of the strong pace of corporate issuance in the dollar market in January, in addition to the sheer volume of new paper, was the willingness of investors to leave the security of the investment grade's higher echelons…

Insurance debt: Don't take a tumble

Holders of bonds from the insurance sector should prepare themselves for a rough ride in 2009. Lingering concerns over the exposure of certain names to toxic structured credit assets and the difficulty of raising more debt in the current environment are…

The repo effect

The ability of banks to use securitisation deals as collateral for repo funding from central banks has resulted in larger deals with more esoteric assets. Laurence Neville looks at how this change is affecting the securitisation market as a whole

Profile: Conrad Hewitt

The widespread belief that fair value accounting somehow contributed to the financial crisis is ill-informed - or so the SEC's chief accountant explains to Alexander Campbell

Legal Spotlight

The ECB has set minimum standards that ABS must meet if issuers are to use the securities as repo-eligible funding. Angus Duncan assesses the impact of these new rules on existing ABS

Deals of the Month: GDF Suez

The primary markets have been buzzing since the start of the year. We profile GDF Suez's mammoth EUR4.25bn deal, the $1.5bn five-year from Staples, and Toyota's Swiss franc issue

Credit Investor Survey 2009

Our exclusive poll of leading credit investors gives an insight into the factors affecting today’s investment decisions. Which assets provide value? Which sectors should you avoid? When will conditions improve?

A capital offence

In believing that healthy capital reserves would enable banks to weather the credit crisis, lawmakers and banking chiefs neglected one important fact, says Suresh Sankaran of Fiserv IPS-Sendero: that robust capital adequacy ratios do very little to keep…

Unblocking the euro pipeline

Last month brought a huge EUR48.4 billion of new corporate bonds, more than half the total amount of supply one investment bank predicted for the whole year in the euro market. Matthew Attwood looks at the drivers of the trend, and finds that in one…

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