Presale: Rhode Island Student Loan Authority ? Series 2012 A Feb 12
- ID: 2047562
- February 2012
- Region: Rhode Island
- Standard & Poors
The preliminary 'A+ (sf)' rating assigned to Rhode Island Student Loan Authority's (the Authority's) 2012 senior series A student loan program revenue bonds reflects our view of: The availability of approximately 23%-24% credit support, including excess spread (based on stressed cash flow scenarios), which provides coverage for stressed credit losses that are commensurate with the preliminary 'A+ (sf)' rating assigned to the bonds; The transaction's initial parity of approximately 109.53% (defined as a percentage of the total assets, including outstanding loans and funds in the loan acquisition account, the reserve account, and the capitalized interest account to the total outstanding bonds); The credit quality of the loan pool to be originated during the acquisition period expected to be consistent in...
Companies mentioned in this report are: Rhode Island Student Loan Authority
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