Presale: Government Housing Loan Corp. Nov 04

  • ID: 2049069
  • November 2004
  • Standard & Poors
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Expected closing date: Nov. 5, 2004 Collateral: An entrusted pool of residential loans and mortgages. Originator/Servicer: Government Housing Loan Corp. Collateral trustee: Mitsubishi Trust & Banking Corp. Bond trustee: Mizuho Corporate Bank Ltd. Backup servicer: Mitsubishi Trust & Banking Corp. Standard & Poor's Ratings Services expects to assign its 'AAA' rating to Government Housing Loan Corp.'s (GHLC) -30 billion series 24 fixed-rate residential mortgage-secured pass-through notes and beneficiary certificates (subsequent to a trigger event). Standard & Poor's rating addresses the timely payment of interest, or interest distribution in the case of the beneficiary certificates, allowing for a three-month grace period, and the ultimate repayment of principal by the transaction's legal final maturity in November 2039. The preliminary rating is based...

Companies mentioned in this report are: Japan Housing Finance Agency

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: Full Analysis

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Japan Housing Finance Agency

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