NEW YORK (Standard&Poor's) Aug. 7, 2007--Standard&Poor's Ratings Services today assigned its ratings to North Carolina State Education Assistance Authority's $434.2 million tax-exempt guaranteed student loan revenue bonds 2007 series S (see list). The ratings on the senior class S-1 through S-5 bonds reflect the $40 million in subordinate bonds, the 3% reserve account, and the excess spread. The rating on the subordinate class S-Sub bonds reflects the reserve account and the excess spread. The reserve account has a floor of $500,000 to provide additional credit support as the pool amortizes. RATINGS ASSIGNED North Carolina State Education Assistance Authority Class Rating Amount (mil. $) S-1 AAA 85.0 S-2 AAA 84.8 S-3 AAA 84.8 S-4 AAA 84.8 S-5
