Vermont Student Assistance Corp. $371.4 Million Notes Series 2013-1 Assigned Preliminary 'AA+ (sf)' Rating

OVERVIEW Vermont Student Assistance Corp.'s 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 class A notes. The preliminary rating reflects our view of the transaction's initial senior parity, time interest and principal payments, and payment and legal structures, among other factors. NEW YORK (Standard&Poor's) June 12, 2013--Standard&Poor's Ratings Services today assigned its preliminary 'AA+ (sf)' rating to Vermont Student Assistance Corp.'s $371.4 million student loan asset-backed notes series 2013-1's class A notes (see list). The note issuance is an asset-backed securities transaction backed by student loans that are at least 97% reinsured by the U.S.

...OVERVIEW + Vermont Student Assistance Corp.'s 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 '##+ (sf)' rating to the class A notes. + The preliminary rating reflects our view of the transaction's initial senior parity, time interest and principal payments, and payment and legal structures, among other factors. NEW YORK (Standard & Poor's) June 12, 2013--Standard & Poor's Ratings Services today assigned its preliminary '##+ (sf)' rating to Vermont Student Assistance Corp.'s $371.4 million student loan asset-backed notes series 2013-1's class A notes (see list). The note issuance is an asset-backed securities transaction backed by student loans that are at least 97% reinsured by the U.S. federal government. The preliminary rating is based on information as of June 12, 2013. Subsequent information may result in the assignment of a final rating that differs from the preliminary rating....

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