Case Study Based On J Company's Income Right Asset Securitization

At present,the economic growth in China is slowing down,and it is in the period of shifting—economic growth has shifted from high-speed growth to high-quality development.Although the status of the infrastructure industry in China's national economic development is the most basic but also the core,the infrastructure industry often has financing limitations.Due to the special role of asset securitization and bankruptcy isolation,it helps the financing entity to optimize the financial structure and reduce the financing cost,which is more conducive to the expansion of financing channels.Therefore,the issue of asset securitization products for infrastructure enterprises applied research has practical significance.This paper mainly focuses on the water supply fee income right asset securitization products issued by J company,and conducts case analysis around this subject.First of all,this article starts from the background of the case,mainly focusing on the business background of J company,the basic process of securitized products and the structural arrangement of the core elements of the product.Secondly,in the most important case analysis,this paper conducts a comprehensive analysis from three perspectives.Firstly,from the perspective of core factor analysis,the core elements in the asset support special plan mainly include basic assets,bankruptcy isolation mechanism and credit enhancement measures.This paper starts from the perspectives of infrastructure industry and asset securitization.The core elements of the product are analyzed.Secondly,according to the risks existing in the special plan,this paper starts from different dimensions,mainly analyzes the risks related to the underlying assets and the asset-backed securities.Then it gives a response analysis.Thirdly,because the distribution of this asset-backed special plan product has typical significance,the paper also analyzes the successes and existing problems in the product release.In addition,it provides reference for other companies to issue similar products at the end of the case analysis.Finally,it puts forward suggestions for its existing problems and draws conclusions—J company's income right asset securitization products have good reference for infrastructure enterprises in similar background which have stable financing flow and similar financing needs.