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Article: Fitch Revises Rating Watch on Mass. Educ. Fin. Auth Issue H Bonds to Negative.
- Article from:
- Education Letter
- Article date:
- November 11, 2009
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Fitch Ratings has revised the Rating Watch on the 'AA' rated Massachusetts Educational Financing Authority (MEFA) education loan revenue bonds, issue H, series 2008 (the bonds) to Negative from Evolving following the downgrade of the Issuer Financial Strength (IFS) rating of Assured Guaranty Corp. (Assured) to 'AA-' by Fitch. As a result of the downgrade of Assured, the bonds' ratings are currently based on the underlying collateral. The action is based upon Fitch's Global Structured Finance Criteria.
At issuance, there were two ratings on this transaction; one based upon the insurance policy provided by Assured and one based on the underlying collateral. Fitch ...