Vermont Student Assistance Corp. $21.2 Million Senior Series 2015A Notes Assigned Ratings

OVERVIEW Vermont Student Assistance Corp.'s senior series 2015A issuance is an ABS transaction backed by private fixed-rate student loans. We assigned our 'A (sf)' rating to the senior series 2015A notes. The ratings reflect our view of the transaction's credit support, credit quality, and payment and legal structures, among other factors. NEW YORK (Standard&Poor's) July 16, 2015--Standard&Poor's Ratings Services today assigned its 'A (sf)' ratings to Vermont Student Assistance Corp.'s (VSAC's) $21.2 million education loan revenue bonds senior series 2015A (see list). The note issuance is an asset-backed securities transaction backed by private fixed-rate student loans The rating reflects: The availability of approximately 23.1%-23.3% credit support (based on stressed cash flow scenarios), including excess spread, which

...OVERVIEW + Vermont Student Assistance Corp.'s senior series 2015A issuance is an ABS transaction backed by private fixed-rate student loans. + We assigned our 'A (sf)' rating to the senior series 2015A notes. + The ratings reflect our view of the transaction's credit support, credit quality, and payment and legal structures, among other factors. NEW YORK (Standard & Poor's) July 16, 2015--Standard & Poor's Ratings Services today assigned its 'A (sf)' ratings to Vermont Student Assistance Corp.'s (VSAC's) $21.2 million education loan revenue bonds senior series 2015A (see list). The note issuance is an asset-backed securities transaction backed by private fixed-rate student loans The rating reflects: + The availability of approximately 23.1%-23.3% credit support (based on stressed cash flow scenarios), including excess spread, which provides coverage for the stressed credit losses that we believe are commensurate with the assigned 'A (sf)' ratings; + The transaction's approximate 130.30%...

Ratings Action