OVERVIEW Rhode Island Student Loan Authority's series 2012-2 issuance is an ABS securitization backed by student loans that are at least 97% reinsured by the U.S. federal government. We assigned our preliminary 'AA+ (sf)' rating to the series 2012-2 notes. The preliminary 'AA+ (sf)' rating reflects our view of the transaction's initial parity, the U.S. federal government's reinsurance, and timely interest and principal payments, among other factors. NEW YORK (Standard&Poor's) Nov. 6, 2012--Standard&Poor's Ratings Services today assigned its preliminary 'AA+ (sf)' rating to Rhode Island Student Loan Authority's $260 million FFELP loan-backed notes series 2012-2. The note issuance is an asset-backed securities transaction backed by student loans that are at least 97% reinsured by the U.S.
