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Article: Fitch Affirms and Assigns Stable Outlook to PHEAA 1997 Indenture Senior Notes.
- Article from:
- Business Wire
- Article date:
- November 12, 2009
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NEW YORK -- Fitch Ratings affirms and assigns a Stable Rating Outlook to the senior student loan notes of the Pennsylvania Higher Education Assistance Agency (PHEAA) 1997 Trust Indenture. The trust has been producing excess spread, and the parity for the senior notes are at 103.37% as of Sept. 30, 2009 and increasing. A complete list of rating actions is at the end of this press release.
Fitch's Global Structured Finance Rating Criteria were used to review the ratings and the affirmation is based on the performance of the trust in-line with the expectation. The existence of auction-rate securities has not had a significant impact on the trust performance. The ...