Duff & Phelps Credit Rating Co. said it opened a London office to serve European debt issuers, investors, and banks.

The office will be run by Paul Taylor, former director of Standard & Poor's Corp.'s structured finance group in Europe.

Duff & Phelps said the London office would initially focus on evaluating structured-finance transactions that are brought to market by European-based issuers, primarily major banks and other lending institutions.

These transactions are expected to consist of residential mortgages and commercial real estate loans which are packaged and sold as securities.

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