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Likely Overcollateralization Level For JHF Series 50 Structured Issuance Assessed Jun 11 Product Image

Likely Overcollateralization Level For JHF Series 50 Structured Issuance Assessed Jun 11

  • ID: 1824517
  • June 2011
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that it has analyzed the preliminary pool of receivables relating to Japan Housing Finance Agency's (JHF; AA-/Negative/A-1+) Series 50 fixed-rate residential mortgage-secured pass-through notes on the assumption that a preliminary rating would be assigned. Based on information available as of June 14, 2011, the transaction is expected to have overcollateralization of approximately 22.9% of the total pool (approximately 29.70% of the note balance), and we consider this sufficient for our 'AAA (sf)' rating assignment. Subsequent information may result in the assignment of a preliminary rating or a level of overcollateralization that differs from the above. A preliminary rating will be assigned in mid-June. The issuance is scheduled...

Companies mentioned in this report are: Japan Housing Finance Agency
Action: General Comment

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.

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