Japan Housing Finance Agency's ¥248.7 Billion Series 108 Structured Issuance Assigned 'AAA (sf)' Rating

OVERVIEW The JHF series 108 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) April 28, 2016--Standard&Poor's Ratings Services today said it has assigned its 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) ¥248.7 billion series 108 fixed-rate residential mortgage-secured pass-through notes. The JHF series 108 notes are a securitization that

...OVERVIEW + The JHF series 108 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) April 28, 2016--Standard & Poor's Ratings Services today said it has assigned its '### (sf)' rating to Japan Housing Finance Agency's (JHF) Ñ248.7 billion series 108 fixed-rate residential mortgage-secured pass-through notes. The JHF series 108 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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