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61 Ratings On 20 U.S. Student Loan ABS Deals Lowered; 5 Ratings On 5 Deals Affirmed Jan 12
Standard & Poors, Jan 2012
Abstract
OVERVIEW We lowered our ratings on 61 classes from 20 student loan ABS transactions sponsored by Sallie Mae Inc. We lowered and removed from CreditWatch negative our ratings on 55 classes from 14 of the transactions backed by FFELP student loan collateral due to swap documentation that does not comply with our updated counterparty criteria. We lowered our ratings on six classes from six of the transactions backed by private student loan collateral due to a combination of swap documentation that does not comply with our updated counterparty criteria and the recent downgrade of the transactions' respective swap counterparties. We removed two of these ratings from CreditWatch negative. We affirmed and removed from CreditWatch negative the ratings on five classes...
Action: Affirmed
Action: Downgraded
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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