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Likely Overcollateralization Level For JHF Series 40 Structured Issuance Assessed Aug 10 Product Image

Likely Overcollateralization Level For JHF Series 40 Structured Issuance Assessed Aug 10

  • ID: 2049652
  • August 2010
  • Standard & Poors

TOKYO (Standard & Poor's) Aug. 13, 2010--Standard & Poor's Ratings Services said today that it had analyzed the preliminary pool of receivables relating to Japan Housing Finance Agency's (JHF) Series 40 fixed-rate residential mortgage-secured pass-through notes, assuming that a preliminary rating will be assigned. Based on information as of Aug. 13, 2010, the transaction is expected to have overcollateralization of approximately 22.1% of the total pool (approximately 28.36% of the note balance), which Standard & Poor's considers sufficient for its 'AAA' rating assignment to JHF notes. Subsequent information may result in the assignment of a preliminary rating and a level of overcollateralization that differs from the above level. A preliminary rating will be assigned in mid-August. The timing of issuance...

Companies mentioned in this report are: Japan Housing Finance Agency
Action: General Comment

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
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