...- New Jersey Higher Education Student Assistance Authority's issuance is an ABS transaction backed by private student loans. - We assigned our ratings to the series 2021A, 2021B, and 2021C notes. - The ratings reflect our view of the transaction's credit support, expected initial parity, and loan pool characteristics, among other factors. CENTENNIAL (S&P Global Ratings) May 26, 2021--S&P Global Ratings today assigned its ratings to New Jersey Higher Education Student Assistance Authority's (HESAA) $107.745 million student loan revenue bonds senior series 2021A and 2021B and subordinate series 2021C notes (see list). The bond issuance is an ABS transaction backed by private student loans made under HESAA's New Jersey College Loan to Assist State Students (NJCLASS) loan program, which includes a refinance loan program. The ratings reflect: - The availability of approximately 16.5%-16.9% and 10.3%-10.7% credit support (including excess spread) for the senior and subordinate bonds, respectively,...
