Ratings Raised On Two North Carolina State Education Assistance Authority Transactions

The North Carolina State Education Assistance Authority's series 2011-1 and 2012-1 issuances are ABS transactions backed by pools of loans originated through the U.S. Department of Education's Federal Family Education Loan Program. We raised our ratings on one class of notes from each series. The upgrades reflect our view of the transactions' increased credit enhancement levels, collateral profiles, available liquidity, and full turbo payment structures. CENTENNIAL (S&P Global Ratings) Oct. 5, 2021--S&P Global Ratings today raised its ratings on the class A-3 and class A notes from North Carolina State Education Assistance Authority's series 2011-1 and 2012-1, respectively (see list). These transactions are backed by pools of loans originated through the U.S. Department of Education's (ED) Federal Family Education Loan

...- The North Carolina State Education Assistance Authority's series 2011-1 and 2012-1 issuances are ABS transactions backed by pools of loans originated through the U.S. Department of Education's Federal Family Education Loan Program. - We raised our ratings on one class of notes from each series. - The upgrades reflect our view of the transactions' increased credit enhancement levels, collateral profiles, available liquidity, and full turbo payment structures. CENTENNIAL (S&P Global Ratings) Oct. 5, 2021--S&P Global Ratings today raised its ratings on the class A-3 and class A notes from North Carolina State Education Assistance Authority's series 2011-1 and 2012-1, respectively (see list). These transactions are backed by pools of loans originated through the U.S. Department of Education's (ED) Federal Family Education Loan Program (FFELP). Our review considered the transactions' collateral performance and available liquidity, changes in credit enhancement, and capital and payment structures....

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