German Securitization Volumes Quadruple in Q1
The German securitization market nearly quadrupled in the first quarter of 2002 to end at $8.42 billion compared with $2.16 billion in the same period a year earlier, according to Torsten Althaus, a director at Standard & Poor’s Structured Finance Ratings group in Frankfurt. Speaking at the group’s annual structured finance conference in Frankfurt, Mr. Althaus added that volumes were higher than those of the other main players in the European securitization market, including the U.K. ($8.3 billion) and Italy ($5.5 billion). Synthetic issuance remains a strong focus of the German structured finance market as a balance-sheet management tool. At the end of the first quarter 2002, it totalled a huge $6.03 billion compared with $0.40 billion a year earlier.