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Preliminary 'AAA' Rating Assigned To GHLC's ¥250 Billion Series S-8 Structured Issuance Sep 06 Product Image

Preliminary 'AAA' Rating Assigned To GHLC's ¥250 Billion Series S-8 Structured Issuance Sep 06

  • ID: 2049331
  • September 2006
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's) Sept. 14, 2006--Standard & Poor's Ratings Services today assigned its preliminary 'AAA' rating to Government Housing Loan Corp.'s (GHLC) ¥250 billion Series S-8 fixed-rate residential mortgage-secured pass-through notes. This transaction will be the eighth Series S structured note issuance originated by GHLC (AA-/Positive/--). The notes are ultimately secured by a pool of existing residential mortgage loans with a certain period of seasoning directly extended by GHLC. The preliminary rating is based on information as of Sept. 14, 2006. Subsequent information may result in the assignment of a final rating that differs from the preliminary rating. A final rating will be assigned after the amount and exact terms of the notes are finalized and a full rating...

Companies mentioned in this report are:
- Japan Housing Finance Agency

Action: Preliminary 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
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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