NEW YORK (Standard&Poor's) Sept. 28, 2011--Standard&Poor's Ratings Services today assigned its preliminary 'AA-/A-1+' rating to Rhode Island Student Loan Authority's student loan program revenue bonds 2011 series A. The preliminary rating reflects our opinion of the credit and liquidity support that State Street Bank and Trust Co. ('AA-/A-1+') provides in the form of an irrevocable direct-pay letter of credit (LOC). Under the LOC, State Street Bank and Trust Co. fully supports all bond payment obligations when the bonds are in the weekly and long-term interest rate reset modes. Therefore, our analysis applies only during these rate modes. If the bonds are converted to another rate mode, we will likely withdraw our rating. The 'AA-' long-term component
