Moody's Investors Service Inc. said Wednesday that Japan's securitization market is expected to grow 20 percent to 40 percent in 2001 from the previous year to be worth between 3 trillion yen and 3.5 trillion yen.
The rise in overall volume will be led primarily by the strong growth of commercial mortgage-backed securities and an increase in asset-backed securities supported by unsecured consumer loans, the U.S. credit-rating firm said in a report.
"In most other sectors the level of securitization was essentially unchanged, although commercial real estate securitization recorded a sharp increase in 2000 and is expected to maintain its strong pace for some time to come, and register vast growth in 2001," the report said.
The securitization market was only marginally affected by related legal changes in 2000, Moody's said.
"Although steps to revise Japan's bankruptcy laws will presumably make some progress in the coming years, their influence on the securitization market is likely to be minimal," it said.