MOODY'S ASSIGNS PROSPECTIVE RATINGS TO JPM-JC3 TRUST'S CMBS TRANSACTION
Moody's Investors Service has announced that the following prospective ratings have been assigned to the trust certificates issued by JPM-JC3 Trust.
Issuer: JPM-JC3 Trust
Arranger: J. P. Morgan Securities Asia Pte. Limited
Underlying Assets: A portfolio of two non-recourse loans and one specified bond
Class --- Rating --- Amount --- Interest Rate --- Legal Final Maturity
A --- (P)Aaa --- JPY11,000,000,000 --- Floating --- November, 2010
B --- (P)Aa2 --- JPY1,500,000,000 --- Floating --- November, 2010
C --- (P)A2 --- JPY1,200,000,000 --- Floating --- November, 2010
D --- (P)Baa2 --- JPY900,000,000 --- Floating --- November, 2010
X* --- (P)Aaa (Notional principal amount JPY14,600,000,000)
* Class X is an IO (Interest Only) strip.
The prospective ratings on the Class A, B, C and D address the timely payment of scheduled dividend and the full payment of principal at par on or before the legal final maturity date. The prospective rating on Class X addresses the payment of excess interest as long as principal is outstanding.
Moody's prospective ratings address only the credit risks associated with the transaction. Other non-credit risks, such as those associated with the timing of principal prepayments and the payment of prepayment penalties, have not been addressed and may have a significant effect on yield to investors.
Moody's Investors Service is a publisher of rating opinions and research. It is not involved in the offering or sale of any securities, nor is it acting on behalf of the offering party. This release is not a solicitation or a recommendation to buy, hold or sell securities.
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