Vermont Student Assistance Corp. $20.635 Million Senior Series 2012A Notes Assigned 'A (sf)' Ratings

OVERVIEW Vermont Student Assistance Corp.'s issuance is an ABS securitization backed by private fixed-rate student loans to be originated under Vermont Student Assistance Corp.'s loan programs. We assigned our 'A (sf)' ratings to the senior series 2012A notes. The 'A (sf)' ratings reflect our view of the transaction's credit support, initial parity, principal and interest payments, and origination fees, among other factors. NEW YORK (Standard&Poor's) July 17, 2012--Standard&Poor's Ratings Services today assigned its 'A (sf)' ratings to Vermont Student Assistance Corp.'s (VSAC's) $20.635 million education loan revenue bonds senior series 2012A (tax exempt fixed-rate bonds) (see list). The note issuance is an asset-backed securitization backed by private fixed-rate student loans to be originated under VSAC's loan

...OVERVIEW + Vermont Student Assistance Corp.'s issuance is an ABS securitization backed by private fixed-rate student loans to be originated under Vermont Student Assistance Corp.'s loan programs. + We assigned our 'A (sf)' ratings to the senior series 2012A notes. + The 'A (sf)' ratings reflect our view of the transaction's credit support, initial parity, principal and interest payments, and origination fees, among other factors. NEW YORK (Standard & Poor's) July 17, 2012--Standard & Poor's Ratings Services today assigned its 'A (sf)' ratings to Vermont Student Assistance Corp.'s (VSAC's) $20.635 million education loan revenue bonds senior series 2012A (tax exempt fixed-rate bonds) (see list). The note issuance is an asset-backed securitization backed by private fixed-rate student loans to be originated under VSAC's loan programs. The ratings reflect our view of: + The availability of approximately 35.0%-35.8% credit support (based on stressed cash flow scenarios), including excess spread,...

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