|
|
Article: Fitch Affirms North Carolina State Education Assistance Authority Series 2008-2 at 'AA/F1+'.
- Article from:
- Education Letter
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Fitch Ratings affirms the long- and short-term ratings of the North Carolina State Education Assistance Authority's student loan revenue and refunding bonds, series 2008-2 at 'AA' and 'F1+', respectively and assigns a Stable Outlook.
Fitch's Global Structured Finance Rating Criteria was used to review the ratings, and they are based on the support provided by a direct-pay letter of credit (LOC) issued by Royal Bank of Canada (RBC). The LOC provides full support to the revenue and refunding bonds. RBC is obligated to make payments of interest and principal on the bonds upon maturity, acceleration, and ...