NEW YORK (Standard&Poor's) Oct. 4, 2004--Standard&Poor's Ratings Services today assigned its preliminary ratings to North Carolina State Education Assistance Authority's (NCSEAA) $396.65 million tax-exempt guaranteed student loan revenue bonds 2004 series O (senior lien). At the same time, Standard&Poor's assigned its preliminary ratings to NCSEAA's previously issued senior series and subordinate lien bonds (see list). The preliminary ratings are based on information as of Oct. 4, 2004. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary rating assigned to NCSEAA's tax-exempt guaranteed student loan revenue bonds 2004 series O reflect the approximately 1.9% subordination of the series A and C subordinate lien bonds, the fully
