Japan Housing Finance Agency#s 157.4 Billion Series 133 Structured Issuance Assigned #AAA (sf)# Rating

Stocks and Financial Services Press Releases Friday May 25, 2018 12:59
TOKYO--25 May--S&P Global Ratings

TOKYO (S&P Global Ratings) May 25, 2018--S&P Global Ratings today said it has assigned its 'AAA (sf)' rating to Japan Housing Finance Agency's (JHF) JPY / CNY157.4 billion series 133 fixed-rate residential mortgage-secured pass-through notes.

The JHF series 133 notes are a securitization that JHF issued. A pool of residential mortgage loans that JHF purchased from private-sector financial institutions ultimately backs the notes. We base our rating on the notes on our view of the transaction's legal structure, credit support, and pool characteristics, among other factors.

Our rating reflects our opinion on the likelihood of the timely payment of interest, or interest distribution in the case of beneficiary certificates, allowing for a three-month grace period, and the ultimate repayment of principal by the transaction's legal final maturity date.

Our rating reflects the following: