New Issue: New Jersey Hgr Ed Stud Asst Auth - S&P Global Ratings’ Credit Research

New Issue: New Jersey Hgr Ed Stud Asst Auth

New Issue: New Jersey Hgr Ed Stud Asst Auth - S&P Global Ratings’ Credit Research
New Issue: New Jersey Hgr Ed Stud Asst Auth
Published Aug 30, 2000
927 words — Published Aug 30, 2000
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Abstract:

The ratings on Higher Education Student Assistance Authority's (State of New Jersey) $70.0 million student loan revenue bonds series 2000A are based on an unconditional, irrevocable municipal bond insurance policy that guarantees payment of scheduled principal and interest provided by MBIA Insurance Corp. (MBIA; 'AAA' insurer financial strength rating). Although the rating is dependent on Standard & Poor's rating of MBIA's insurer financial strength, the underlying transaction is of investment-grade quality, based on the following: Overcollateralization that builds to 102% before the expected peak loss period; A moral obligation provision that allows New Jersey instead to pay monies into the debt service reserve fund subject to annual appropriations by the legislature. The state's general obligation rating is 'AA+', and its

  
Brief Excerpt:

RESEARCH New Issue: New Jersey Hgr Ed Stud Asst Auth $70 million student loan revenue bonds series 2000A Publication date: 30-Aug-2000 Ratings Detail Profile New Rating Classes A, A, A, A, A, A, A, A, A, A, A ### Closing date:May 15,...

  
Report Type:

Full Report

Issuer
New Jersey Hgr Ed Stud Asst Auth
Sector
Asset-Backed Securities, Structured Finance
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

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MLA:
S&P Global Ratings’ Credit Research. "New Issue: New Jersey Hgr Ed Stud Asst Auth" Aug 30, 2000. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-New-Jersey-Hgr-Ed-Stud-Asst-Auth-163188>
  
APA:
S&P Global Ratings’ Credit Research. (). New Issue: New Jersey Hgr Ed Stud Asst Auth Aug 30, 2000. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-New-Jersey-Hgr-Ed-Stud-Asst-Auth-163188>
  
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