Japan Housing Finance Agency's ¥50 Billion Series T-5 Structured Issuance Assigned 'AAA (sf)' Rating

OVERVIEW The JHF series T-5 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 JHF's credit quality. TOKYO (S&P Global Ratings) Dec. 26, 2019--S&P Global Ratings today said it has assigned its 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) ¥50 billion series T-5 fixed-rate residential mortgage-secured pass-through notes. The JHF series T-5 notes are a securitization that JHF issued. A pool

...OVERVIEW + The JHF series T-5 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 JHF's credit quality. TOKYO (S&P Global Ratings) Dec. 26, 2019--S&P Global Ratings today said it has assigned its '### (sf)' rating to Japan Housing Finance Agency's (JHF) Ñ50 billion series T-5 fixed-rate residential mortgage-secured pass-through notes. The JHF series T-5 notes are a securitization that JHF issued. A pool of residential mortgage loans directly extended by JHF's predecessor, Government Housing Loan Corp. (GHLC), ultimately backs the notes. We base our rating on the notes on our view of the transaction's legal...

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