Presale: Government Housing Loan Corp. Nov 04
- ID: 2049069
- November 2004
- Standard & Poors
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
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Research Type: Full Analysis