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Likely Overcollateralization Level For JHF Series 32 Structured Issuance Assessed Dec 09 Product Image

Likely Overcollateralization Level For JHF Series 32 Structured Issuance Assessed Dec 09

  • ID: 2050165
  • December 2009
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's) Dec. 10, 2009--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 32 fixed-rate residential mortgage-secured pass-through notes, assuming that a preliminary rating will be assigned. Based on information as of Dec. 10, 2009, the transaction is expected to have overcollateralization of approximately 13.8% of the total pool (approximately 16.00% 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-December. 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
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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