Presale: Japan Housing Finance Agency Jul 11
Standard & Poors, July 2011
Abstract
Standard & Poor's Ratings Services expects to assign its 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF; AA-/Negative/A-1+) -172.7 billion series 51 fixed-rate residential mortgage-secured pass-through notes and beneficiary certificates (subsequent to a trigger event). Standard & Poor's rating reflects its opinion on the likelihood of the full and 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 date in August 2046. The preliminary rating is based on information as of July 20, 2011. Subsequent information may result in the assignment of a final rating that differs from the preliminary rating. A final rating will be...
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
Japan Housing Finance Agency
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