Japan Housing Finance Agency's Series 107 Structured Issuance Assigned Preliminary 'AAA (sf)' Rating

OVERVIEW The JHF series 107 fixed-rate residential mortgage-secured pass-through notes are a securitization to be issued by JHF. A pool of residential mortgage loans will ultimately back the notes. We are assigning our preliminary '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) March 10, 2016--Standard&Poor's Ratings Services today said it has assigned its preliminary 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) series 107 fixed-rate residential mortgage-secured pass-through notes. JHF will set the expected issue

...OVERVIEW + The JHF series 107 fixed-rate residential mortgage-secured pass-through notes are a securitization to be issued by JHF. A pool of residential mortgage loans will ultimately back the notes. + We are assigning our preliminary '### (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) March 10, 2016--Standard & Poor's Ratings Services today said it has assigned its preliminary '### (sf)' rating to Japan Housing Finance Agency's (JHF) series 107 fixed-rate residential mortgage-secured pass-through notes. JHF will set the expected issue amount at or less than Ñ172.5 billion in mid-March. The JHF series 107 notes are a securitization to be issued by JHF. A pool of residential mortgage loans that JHF purchased from private-sector financial...

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