Rating On Vermont Student Assistance Corp. Series 2012-1 Notes Affirmed

OVERVIEW We affirmed our 'AA+ (sf)' rating on the class A notes from Vermont Student Assistance Corp.'s series 2012-1, an ABS transaction backed by a pool of FFELP student loans. The affirmation reflects our view that the current credit enhancement level is sufficient to support the notes at the current rating. NEW YORK (S&P Global Ratings) Nov. 20, 2017--S&P Global Ratings today affirmed its 'AA+ (sf)' rating on the class A notes from Vermont Student Assistance Corp.'s series 2012-1, an asset-backed securities (ABS) student loan transaction. The affirmation reflects our expectations regarding collateral performance, the payment structure, and the current credit enhancement available to support these notes. We also considered secondary credit factors such as credit stability, payment priority, and

...OVERVIEW + We affirmed our '##+ (sf)' rating on the class A notes from Vermont Student Assistance Corp.'s series 2012-1, an ABS transaction backed by a pool of FFELP student loans. + The affirmation reflects our view that the current credit enhancement level is sufficient to support the notes at the current rating. NEW YORK (S&P Global Ratings) Nov. 20, 2017--S&P Global Ratings today affirmed its '##+ (sf)' rating on the class A notes from Vermont Student Assistance Corp.'s series 2012-1, an asset-backed securities (ABS) student loan transaction. The affirmation reflects our expectations regarding collateral performance, the payment structure, and the current credit enhancement available to support these notes. We also considered secondary credit factors such as credit stability, payment priority, and sector-and issuer-specific analyses. COLLATERAL OVERVIEW The trust consists of approximately 77% consolidation loans, 18% Stafford loans, and 5% Parent Loan to Undergraduate Students (PLUS)...

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