Likely Overcollateralization Level For JHF Series 52 Structured Issuance Assessed Aug 11

Standard & Poors, August 2011

Abstract
TOKYO (Standard & Poor's) Aug. 12, 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 52 fixed-rate residential mortgage-secured pass-through notes on the assumption that a preliminary rating would be assigned. Based on information available as of Aug. 12, 2011, the transaction is expected to have overcollateralization of approximately 23.1% of the total pool (approximately 30.03% 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-August. The issuance is scheduled...

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

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Research type: News
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Japan Housing Finance Agency

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