Japan Housing Finance Agency's ¥110 Billion Series 101 Structured Issuance Assigned 'AAA (sf)' Rating

OVERVIEW The JHF series 101 fixed-rate residential mortgage-secured pass-through notes are a securitization that JHF issued. A pool of residential mortgage loans ultimately backs the notes. We are assigning our 'AAA (sf)' rating to the notes, based on our view of the transaction's legal structure, credit support, and pool characteristics, among other factors. Because of the structural features of this transaction, the rating on the notes depends to an extent on the credit quality of JHF. TOKYO (Standard&Poor's) Sept. 30, 2015--Standard&Poor's Ratings Services today said that it has assigned its 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) ¥110 billion series 101 fixed-rate residential mortgage-secured pass-through notes. The JHF series 101 notes are a securitization

...OVERVIEW + The JHF series 101 fixed-rate residential mortgage-secured pass-through notes are a securitization that JHF issued. A pool of residential mortgage loans ultimately backs the notes. + We are assigning our '### (sf)' rating to the notes, based on our view of the transaction's legal structure, credit support, and pool characteristics, among other factors. + Because of the structural features of this transaction, the rating on the notes depends to an extent on the credit quality of JHF. TOKYO (Standard & Poor's) Sept. 30, 2015--Standard & Poor's Ratings Services today said that it has assigned its '### (sf)' rating to Japan Housing Finance Agency's (JHF) Ñ110 billion series 101 fixed-rate residential mortgage-secured pass-through notes. The JHF series 101 notes are a securitization that JHF issued. A pool of residential mortgage loans that JHF purchased from private-sector financial institutions ultimately backs the notes. We base our rating on the notes on our view of the transaction's...

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