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 Jun 07, 2004
832 words — Published Jun 07, 2004
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Abstract:

The ratings assigned to New Jersey Higher Education Student Assistance Authority's $200 million student loan revenue bonds 2004 series A, B, C, and D are based on an unconditional, irrevocable financial guaranty bond insurance policy that guarantees payment of scheduled interest and principal provided by MBIA Insurance Corp. (MBIA; 'AAA' insurer financial enhancement rating). Although the rating is dependent on Standard & Poor's Ratings Services' financial strength rating of MBIA, the underlying transaction is of investment-grade quality, based on the following: A moral obligation provision that requires the state of New Jersey to maintain the debt service reserve fund at its required level of 2.0% of the principal amount of the 2004 bonds. This obligation is subject to annual appropriations

  
Brief Excerpt:

RESEARCH New Issue: New Jersey Hgr Ed Stud Asst Auth $200 million student loan revenue bonds 2004 series A,B,C,and D Publication date: 07-Jun-2004 Ratings Detail Profile New Rating Classes A, B, C, D ### Closing date:Apr. 28, 2004 Rationale...

  
Report Type:

Full Report

Issuer
New Jersey Hgr Ed Stud Asst Auth
Sector
Asset-Backed Securities, Structured Finance
Format:
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MLA:
S&P Global Ratings’ Credit Research. "New Issue: New Jersey Hgr Ed Stud Asst Auth" Jun 07, 2004. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-New-Jersey-Hgr-Ed-Stud-Asst-Auth-378506>
  
APA:
S&P Global Ratings’ Credit Research. (). New Issue: New Jersey Hgr Ed Stud Asst Auth Jun 07, 2004. 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-378506>
  
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