TOKYO (S&P Global Ratings) Jan. 12, 2023--Modest economic growth should support the performance of Japan's securitization market in 2023.
That's according to "Japan Structured Finance Outlook: Economic Growth To Shield Performance," which we published today.
S&P Global Ratings expects the underlying assets for owner-occupied residential mortgage-backed securities (RMBS) and condominium investment RMBS to perform stably. The same goes for consumer loan and corporate asset-backed securities (ABS). Assets backing apartment loan RMBS and commercial mortgage-backed securities (CMBS) will likely somewhat underperform, in our view.
We consider RMBS, ABS, and CMBS to be representative asset classes of Japan's securitization market. In this report, we discuss our views on the performance outlooks for securitizations of these asset classes in Japan in 2023.
This report does not constitute a rating action.
The report is available to subscribers of RatingsDirect at www.capitaliq.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to research_request@spglobal.com. Ratings information can also be found on S&P Global Ratings' public website by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Primary Credit Analyst: | Hiroshi Sonoda, Tokyo (81) 3-4550-8474; hiroshi.sonoda@spglobal.com |
Secondary Contacts: | Toshiaki Shimizu, Tokyo + 81 3 4550 8302; toshiaki.shimizu@spglobal.com |
Yuji Hashimoto, Tokyo + 81 3 4550 8275; yuji.hashimoto@spglobal.com |
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