Educational Funding Of The South Inc. $1.635 Billion Bonds Series 2007-1 Rated
Standard & Poors, November 2007
Abstract
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
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Research type: News
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Educational Funding of the South Inc
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