TOKYO (Standard & Poor's) Feb. 7, 2007--Standard & Poor's Ratings Services today assigned its 'AAA' rating to Government Housing Loan Corp.'s (GHLC) ¥107.5 billion Series 51 fixed-rate residential mortgage-secured pass-through notes. The notes are ultimately secured by a pool of residential mortgage loans originated by GHLC. 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 February 2042. This transaction is a structured note issuance originated by GHLC (AA-/Positive/--). The notes are expected to be backed by ¥116.6 billion of beneficiary certificates issued from a trust created with Sumitomo Trust & Banking...
Companies mentioned in this report are:
- Japan Housing Finance Agency
Action: New Rating
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