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Ratings Assigned To L-MAP One Funding MBS Transaction
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
TOKYO (Standard & Poor's) May 22, 2006--Standard & Poor's Ratings Services said today that it had assigned its ratings to L-MAP One Funding Ltd.'s (L-MAP1) structured secured pass-through notes classes A to D (Regular Notes), as well as a J-NIM security, due 2038 (see list below). This transaction involves the securitization of apartment loans originated by New Century Finance Co. Ltd. (New Century), a Lehman Brothers Japan Inc. (Tokyo Branch) affiliate that originates mortgage loans for new apartments. The -21.642 billion notes are backed by a pool of apartment loans secured by properties located throughout Japan. Lehman Brothers Japan serves as the arranger for this transaction. Regarding the class A to D Regular Notes, the preliminary ratings address the full...
Companies mentioned in this report are: L-Map One Funding Ltd.
Action: New Rating
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