OVERVIEW North Carolina State Education Assistance Authority 's 2010-1 series note issuance is a securitization of Federal Family Education Loan Program (FFELP) student loans consisting of a combination of consolidation, Stafford, PLUS, and SLS loans. We assigned our preliminary rating to the series 2010-1 notes. The preliminary ratings reflect our view of the transaction's initial expected parity, federal reinsurance of at least 97% of the loan's principal and interest, as well as our stress scenarios, among other factors. NEW YORK (Standard&Poor's) Sept. 20, 2010--Standard&Poor's Ratings Services today assigned its preliminary rating to North Carolina State Education Assistance Authority's $908 million 2010-1 series student loan-backed notes (see list). The preliminary rating is based on information as of
