Moodys Investors Service has released a new report called ABS Market in Japan: 2Q 2008 Market Review.
The report shows that in the second quarter of this year, Moodys rated nine Japanese ABS transactions totaling JPY 101.4 billion. This number is down 74% from the last years second quarter, when Moodys rated 18 transactions totaling JPY 385.4 billion.
Moodys also upgraded ten ratings due to increased credit enhancement.
Among the major topics that took place during the quarter are: the submission of Credias civil rehabilitation plan, the bill to amend to the specified commercial transaction law and installment sales law passed the diet, and Moodys sector review of transactions backed by real-estate collateralized SME loans.