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JHF?s ?250 Billion Series S-7 Structured Issuance Assigned 'AAA' Rating Mar 08
Standard & Poors, March 2008
TOKYO (Standard & Poor's) March 6, 2008--Standard & Poor's Ratings Services today assigned its 'AAA' rating to Japan Housing Finance Agency's (JHF) -250 billion JHF Series S-7 fixed-rate residential mortgage-secured pass-through notes. The notes are ultimately secured by a pool of existing residential mortgage loans with a certain period of seasoning directly extended by JHF (AA/Stable/--). Standard & Poor's rating addresses the timely payment of interest, or interest distribution in the case of beneficiary certificates, allowing for a three-month grace period, and the ultimate repayment of principal by the transaction's legal final maturity in November 2038. The notes are expected to be backed by -267.7 billion of beneficiary certificates issued from a trust created with Sumitomo Trust & Banking Co....
Companies mentioned in this report are: Japan Housing Finance Agency
Action: New Rating
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
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Japan Housing Finance Agency