OVERVIEW North Carolina State Education Assistance Authority's issuance is an ABS transaction backed by FFELP student loans that are at least 97% federally reinsured by the U.S. federal government. We assigned our 'AA+ (sf)' ratings to the class A-1 and A-2 notes. The ratings reflect our view of the transaction's initial parity of no less than 104% and the timely interest and principal payments made in the stressed cash flow modeling scenarios, among other factors. NEW YORK (Standard&Poor's) Dec. 1, 2015--Standard&Poor's Ratings Services today assigned its 'AA+ (sf)' ratings to North Carolina State Education Assistance Authority's $133.4 million student loan-backed notes series 2015-1 (see list). The note issuance is an asset-backed securities transaction backed by Federal
