Presale: Japan Housing Finance Agency (Series 174) - S&P Global Ratings’ Credit Research

Presale: Japan Housing Finance Agency (Series 174)

Presale: Japan Housing Finance Agency (Series 174) - S&P Global Ratings’ Credit Research
Presale: Japan Housing Finance Agency (Series 174)
Published Oct 19, 2021
18 pages (6550 words) — Published Oct 19, 2021
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings has assigned its preliminary 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) ¥126.7 billion series 174 fixed-rate residential mortgage-secured pass-through notes and beneficiary certificates (subsequent to a trigger event). Our preliminary rating reflects our opinion on the likelihood of the full and timely payment of interest, or interest distribution in the case of the beneficiary certificates, allowing for a three-month grace period, and the ultimate repayment of principal by the transaction's legal final maturity date. Our preliminary rating primarily reflects the following: We assume a foreclosure frequency for the loan receivables in the notes' underlying asset pool of about 38.0% under a stress level commensurate with our 'AAA' rating and about 4.3% under a stress level

  
Brief Excerpt:

...S&P Global Ratings has assigned its preliminary '### (sf)' rating to Japan Housing Finance Agency's (JHF) Ñ126.7 billion series 174 fixed-rate residential mortgage-secured pass-through notes and beneficiary certificates (subsequent to a trigger event). Our preliminary rating reflects our opinion on the likelihood of the full and timely payment of interest, or interest distribution in the case of the beneficiary certificates, allowing for a three-month grace period, and the ultimate repayment of principal by the transaction's legal final...

  
Report Type:

Presale Report

Sector
Global Issuers, Structured Finance
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Presale: Japan Housing Finance Agency (Series 174)" Oct 19, 2021. Alacra Store. Nov 30, 2021. <http://www.alacrastore.com/s-and-p-credit-research/Presale-Japan-Housing-Finance-Agency-Series-174-2740616>
  
APA:
S&P Global Ratings’ Credit Research. (). Presale: Japan Housing Finance Agency (Series 174) Oct 19, 2021. New York, NY: Alacra Store. Retrieved Nov 30, 2021 from <http://www.alacrastore.com/s-and-p-credit-research/Presale-Japan-Housing-Finance-Agency-Series-174-2740616>
  
US$ 500.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.