The ratings assigned to Wyoming Student Loan Corp.'s (WSLC) student loan revenue refunding bonds senior series 2008A-1, 2008A-2, and 2008A-3 are based on the irrevocable, direct-pay letter of credit (LOC) that Royal Bank of Canada ('AA-/A-1+') provides. The ratings apply to the bonds when they are in the weekly interest rate mode (see Structural Overview). The long-term ratings reflect the likelihood of the repayment of principal and interest to maturity based primarily on Royal Bank of Canada's credit support. The short-term ratings reflect the likelihood of repayment based on the liquidity support that the LOC provides for optional and mandatory tenders. Rating adjustments and the placement of ratings on CreditWatch may be precipitated by, among other things, changes in the...
Companies mentioned in this report are:
- Royal Bank of Canada
Action: New Rating
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Research Type: Full Analysis