Rating Raised On Vermont Student Assistance Corp. Series 2014-B Notes

OVERVIEW We reviewed Vermont Student Assistance Corp.'s series 2014-B, an ABS transaction backed by a pool of FFELP and private student loans. We raised our rating on the series 2014-B notes to reflect our view of the collateral's performance trends, available remaining credit enhancement, current collateral characteristics, and our review of the expected base-case cumulative lifetime gross defaults and net losses for the trust. The rating action also reflects our belief that the transaction has sufficient liquidity to cover interest payments to the notes over the next several months, despite the effects of the COVID-19 pandemic. NEW YORK (S&P Global Ratings) Nov. 25, 2020--S&P Global Ratings today raised its rating on Vermont Student Assistance Corp.'s (VSAC's) series 2014-B notes to

...OVERVIEW + We reviewed Vermont Student Assistance Corp.'s series 2014-B, an ABS transaction backed by a pool of FFELP and private student loans. + We raised our rating on the series 2014-B notes to reflect our view of the collateral's performance trends, available remaining credit enhancement, current collateral characteristics, and our review of the expected base-case cumulative lifetime gross defaults and net losses for the trust. + The rating action also reflects our belief that the transaction has sufficient liquidity to cover interest payments to the notes over the next several months, despite the effects of the COVID-19 pandemic. NEW YORK (S&P Global Ratings) Nov. 25, 2020--S&P Global Ratings today raised its rating on Vermont Student Assistance Corp.'s (VSAC's) series 2014-B notes to 'A+ (sf)' from 'A (sf)'. The note issuance is an ABS transaction backed by a pool of U.S. Department of Education's (ED's) Federal Family Education Loan Program (FFELP) loans and private student loans...

Ratings Action