S&P Global SF Japan has placed an AAA(sf) rating on the 14.1 billion yen class alpha senior trust certificates issued under SMBC Residential Mortgage Trust Certificates No. 55 due 2067, according to a Friday release.
Sumitomo Mitsui Banking originated a pool of housing loan receivables that backs the senior trust certificates. The receivables were transferred to a trust established with Sumitomo Mitsui Trust Bank.
The rating considers, among other factors, adequate collateralization of 11% and excess spread, which offset risks such as the credit risk of the underlying loan receivables.
Sumitomot Mitsui Financial Group (TYO:8316) is the aprent of Sumitomo Mitsui Banking.
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