Vermont Student Assistance Corp. Series 2012-B Rating Raised On One Class, Another Placed On Watch Positive

OVERVIEW We reviewed Vermont Student Assistance Corp.'s (VSAC) series 2012-B, which is backed by a pool of private student loans originated under VSAC's deferred variable-rate Advantage loan program. We raised our ratings on the class A-1 notes to 'AAA (sf)' based on the current enhancement levels and the expected short term to pay down. We placed our 'A (sf)' rating on the class A-2 notes on CreditWatch with positive implications to reflect our view of the collateral performance and that growing credit enhancement may be sufficient to support a higher rating. NEW YORK (S&P Global Ratings) Oct. 10, 2018--S&P Global Ratings today raised its rating on the class A-1 notes issued from Vermont Student Assistance Corp.' s (VSAC's) series 2012-B

...OVERVIEW + We reviewed Vermont Student Assistance Corp.'s (VSAC) series 2012-B, which is backed by a pool of private student loans originated under VSAC's deferred variable-rate Advantage loan program. + We raised our ratings on the class A-1 notes to '### (sf)' based on the current enhancement levels and the expected short term to pay down. + We placed our 'A (sf)' rating on the class A-2 notes on CreditWatch with positive implications to reflect our view of the collateral performance and that growing credit enhancement may be sufficient to support a higher rating. NEW YORK (S&P Global Ratings) Oct. 10, 2018--S&P Global Ratings today raised its rating on the class A-1 notes issued from Vermont Student Assistance Corp.' s (VSAC's) series 2012-B to '### (sf)' from '## (sf)'. At the same time, we placed our 'A (sf)' rating on the class A-2 notes from the same transaction on CreditWatch with positive implications. (See list.) The upgrade on class A-1 reflects the expected short term to pay...

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