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Bulletin: SLM Corp. Ratings Unaffected By First-Quarter Earnings And Share Repurchase Announcements
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services said today that its ratings on SLM Corp. (BBB-/Stable/A-3) remain unchanged after the company announced its first-quarter earnings, a share repurchase of up to $300 million, and a quarterly dividend of $0.10 per share on common stock. SLM announced strong first-quarter earnings with continued improvement compared with first-quarter 2010 and the prior quarter (excluding gain on sale of $318 million from a $20.4 billion sale of FFELP loans in that quarter). SLM's core earnings of $260 million improved from $215 million in first-quarter 2010, largely because of improvements in the consumer-lending segment. Earnings in this segment were $44 million, compared with $5 million in first-quarter 2010, due to...
Companies mentioned in this report are: SLM Corporation
Action: Bulletin
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