The JHF series 225 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 structure of this transaction, the rating on the notes depends to an extent on JHF's credit quality. TOKYO (S&P Global Ratings) Jan. 29, 2026--S&P Global Ratings today said it has assigned its 'AAA (sf)' rating to Japan Housing Finance Agency 's (JHF) ¥40.3 billion series 225 fixed-rate residential mortgage-secured pass-through notes. The JHF series 225 notes are a securitization JHF issued. A pool of residential
