New Issue: SLM Student Loan Trust 2003-1 - S&P Global Ratings’ Credit Research

New Issue: SLM Student Loan Trust 2003-1

New Issue: SLM Student Loan Trust 2003-1 - S&P Global Ratings’ Credit Research
New Issue: SLM Student Loan Trust 2003-1
Published Feb 28, 2003
1690 words — Published Feb 28, 2003
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

The ratings assigned to SLM Student Loan Trust 2003-1's (the trust) class A-1 through A-5 floating-rate student loan-backed securities reflect the 3% subordination of the class B notes; the fully funded, 0.25% reserve account; and the excess spread that is used to turbo the bonds until the pool balance equals the rated debt. The rating on the class B notes reflects the 0.25% reserve account and the excess spread. The reserve account has a floor of 0.15% of the initial collateral balance to provide additional credit support as the pool amortizes. A sound legal structure and transaction features designed to protect bondholders also support the ratings. Student Loan Marketing Association (Sallie Mae; 'AAA/A-1+') was established as a government-sponsored enterprise (GSE)

  
Brief Excerpt:

RESEARCH New Issue: SLM Student Loan Trust 2003-1 $2.08 billion floating-rate student loan-backed securities series 2003-1 Publication date: 28-Feb-2003 Ratings Detail Profile New Ratings Classes A-1, A-2, A-3, A-4 ### Class B ##+ Closing...

  
Report Type:

Full Report

Issuer
SLM Student Loan Trust 2003-1
Sector
Asset-Backed Securities, Structured Finance
Country
United States
Region
United States
Format:
HTML HTML
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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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "New Issue: SLM Student Loan Trust 2003-1" Feb 28, 2003. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-SLM-Student-Loan-Trust-2003-1-300676>
  
APA:
S&P Global Ratings’ Credit Research. (). New Issue: SLM Student Loan Trust 2003-1 Feb 28, 2003. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-SLM-Student-Loan-Trust-2003-1-300676>
  
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