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Bulletin: SLM Corp. Ratings Remain Unchanged Following $1.5 Billion Notes Issuance Jan 13 Product Image

Bulletin: SLM Corp. Ratings Remain Unchanged Following $1.5 Billion Notes Issuance Jan 13

  • Published: January 2013
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Jan. 24, 2013--Standard & Poor's Ratings Services today said its ratings on SLM Corp. (BBB-/Stable/A-3) are unchanged following the company's issuance of $1.5 billion of medium-term notes. (The notes consist of $1 billion of 5.50%, 10-year senior notes and $500 million of 3.875%, three-year senior notes, an extension of the three-year note program issued in September 2012.) The yields are the lowest for SLM Corp. notes of these maturities since the early 2000s--a positive for the company's funding profile and debt costs, especially following its moderate earnings announcement last week. It reported that fourth-quarter core earnings declined by $11 million from fourth-quarter 2011 (see "EARNINGS UPDATE: SLM Corp. Ratings Unaffected By Moderate Fourth-Quarter Earnings," published...

Companies mentioned in this report are:
- SLM Corp.

Action: Bulletin

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- SLM Corp.

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