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

OVERVIEW The JHF series T-5 fixed-rate residential mortgage-secured pass-through notes are a securitization JHF is to issue. 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 structure of this transaction, the rating on the notes depends to an extent on JHF's credit quality. TOKYO (S&P Global Ratings) Dec. 13, 2019--S&P Global Ratings today said it has assigned its preliminary 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) series T-5 fixed-rate residential mortgage-secured pass-through notes. The issue amount for the notes when the transaction closes in late

...OVERVIEW + The JHF series T-5 fixed-rate residential mortgage-secured pass-through notes are a securitization JHF is to issue. 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 structure of this transaction, the rating on the notes depends to an extent on JHF's credit quality. TOKYO (S&P Global Ratings) Dec. 13, 2019--S&P Global Ratings today said it has assigned its preliminary '### (sf)' rating to Japan Housing Finance Agency's (JHF) series T-5 fixed-rate residential mortgage-secured pass-through notes. The issue amount for the notes when the transaction closes in late December will be Ñ50 billion. The JHF series T-5 notes are a securitization JHF is to issue. A pool of residential mortgage loans directly extended by JHF's predecessor, Government Housing Loan Corp. (GHLC),...

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