Three Ratings Raised On Five Vermont Student Assistance Corp. Series; 45 Affirmed

OVERVIEW We raised our ratings on three classes from Vermont Student Assistance Corp.'s (VSAC's) series 2012A and 2013A. We also affirmed our ratings on 45 classes from VSAC's series 2012A, 2013A, 2016A, 2017A, and 2017B. The series are backed by a pool of private fixed-rate student loans made under the VSAC loan program. The upgrades reflect the bonds' short-term maturities. The affirmations reflect our view of the 2012 master trust indenture's credit support, parity, pool characteristics, and the timely interest and principal payments made under stressed cash flow modeling scenarios, among other factors. NEW YORK (S&P Global Ratings) Oct. 1, 2018--S&P Global Ratings today raised its ratings on three classes from Vermont Student Assistance Corp.'s (VSAC's) series 2012A and 2013A.

...OVERVIEW + We raised our ratings on three classes from Vermont Student Assistance Corp.'s (VSAC's) series 2012A and 2013A. + We also affirmed our ratings on 45 classes from VSAC's series 2012A, 2013A, 2016A, 2017A, and 2017B. + The series are backed by a pool of private fixed-rate student loans made under the VSAC loan program. + The upgrades reflect the bonds' short-term maturities. + The affirmations reflect our view of the 2012 master trust indenture's credit support, parity, pool characteristics, and the timely interest and principal payments made under stressed cash flow modeling scenarios, among other factors. NEW YORK (S&P Global Ratings) Oct. 1, 2018--S&P Global Ratings today raised its ratings on three classes from Vermont Student Assistance Corp.'s (VSAC's) series 2012A and 2013A. We also affirmed our ratings on 45 classes from VSAC's series 2012A, 2013A, 2016A, 2017A, and 2017B. The series are backed by a pool of private fixed-rate student loans made under the VSAC loan program....

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