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Educational Funding Of The South Inc. $189.775 Million Bonds Series 2005 Rated Product Image

Educational Funding Of The South Inc. $189.775 Million Bonds Series 2005 Rated

  • ID: 1784701
  • December 2005
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Dec. 22, 2005--Standard & Poor's Ratings Services today assigned its ratings to Educational Funding of the South Inc.'s $189.775 million educational loan revenue tax-exempt auction-rate bonds series 2005 (see list). The ratings on the senior series 2005 A-1, A-2, and A-3 bonds reflect approximately 3.8% subordination of the subordinate series 2005 B-1 bonds and the previously issued subordinate series 2004-1 B-1 and B-2 bonds, a debt service reserve fund of 1.0%, a parity requirement for any releases, and excess spread. The rating on the subordinate series 2005 B-1 bonds reflects the debt service reserve fund of 1.0%, a parity requirement for any releases, and excess spread. After issuance of the series 2005 bonds, the overall...

Companies mentioned in this report are: Educational Funding of the South Inc
Action: New Rating

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.

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