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Educational Funding Of The South Inc. $1.635 Billion Bonds Series 2007-1 Rated
Standard & Poors, November 2007
NEW YORK (Standard & Poor's) Nov. 8, 2007--Standard & Poor's Ratings Services today assigned its ratings to Educational Funding of The South Inc.'s $1.635 billion student loan-backed bonds series 2007-1 (see list). The ratings assigned to the class A-1 through A-11 senior bonds reflect the approximately 3.02% subordination of the class B bonds and the previously issued class C bonds series 2003Fl, 2004FL, and 2005FL; the fully funded 0.88% reserve account; and the excess spread. The rating assigned to the subordinate class B-1 bonds reflects the approximately 1.53% subordination of the previously issued class C bonds series 2003Fl, 2004FL, and 2005FL; the fully funded 0.88% reserve fund; and the excess spread. Additional protection for the noteholders will be provided by...
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.
Educational Funding of the South Inc