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S&P Credit Research2955 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | The series 2009-1 transaction is backed by consolidation loans originated under the Federal Family Education Loan Program (FFELP). Table 1 shows an overview of the series 2009-1 transaction compared with other recent FFELP consolidation loan transactions. The preliminary 'AAA' ratings assigned to Missouri Higher Education Loan Authority's (MOHELA's) class A student loan asset-backed notes series 2009-1 reflect our view of: The transaction's initial parity of approximately 105.44% (the parity percentage is defined as the percentage of the total assets, including the pool balance, the initial reserve account, and the capitalized interest account, over the total bond principal amount); The U.S. federal government's reinsurance of at least 97% of the loans' principal and interest; and The timely interest and principal payments
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| Brief Excerpt: | RESEARCH Ratings Definitions Presale: Missouri Higher Education Loan Authority - Series 2009-1 Publication date: 03-Nov-2009 Primary Credit Analysts: Jerry Kalmus, New York (1) 212-438-2502; jerry_kalmus@standardandpoors.com Timothy...
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| Report Type: | Full Report
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| Sector: | Global Issuers, Public Finance, Structured Finance
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
