Vermont Student Assistance Corp. Senior Series 2014A $29.920 Million Bonds Rated 'AA (sf)'

OVERVIEW Vermont Student Assistance Corp.'s issuance is an ABS transaction backed by private fixed-rate student loans made under Vermont Student Assistance Corp.'s loan programs. We assigned our 'AA (sf)' ratings to the senior series 2014A bonds. The ratings reflect our view of the transaction's credit support, initial parity, loan-pool credit quality, and timely interest and principal payments, among other factors. NEW YORK (Standard&Poor's) July 9, 2014--Standard&Poor's Ratings Services today assigned its ratings to Vermont Student Assistance Corp.'s (VSAC's) $29.920 million education loan revenue bonds senior series 2014A (tax-exempt fixed-rate alternative minimum tax bonds). The note issuance is an asset-backed securitization backed by private fixed-rate student loans made under Vermont Student Assistance Corp.'s loan programs. The ratings

...OVERVIEW + Vermont Student Assistance Corp.'s issuance is an ABS transaction backed by private fixed-rate student loans made under Vermont Student Assistance Corp.'s loan programs. + We assigned our '## (sf)' ratings to the senior series 2014A bonds. + The ratings reflect our view of the transaction's credit support, initial parity, loan-pool credit quality, and timely interest and principal payments, among other factors. NEW YORK (Standard & Poor's) July 9, 2014--Standard & Poor's Ratings Services today assigned its ratings to Vermont Student Assistance Corp.'s (VSAC's) $29.920 million education loan revenue bonds senior series 2014A (tax-exempt fixed-rate alternative minimum tax bonds). The note issuance is an asset-backed securitization backed by private fixed-rate student loans made under Vermont Student Assistance Corp.'s loan programs. The ratings reflect our view of: + The availability of approximately 30% credit support (based on stressed cash flow scenarios), including excess spread,...

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