CUSIP 646080RT0
- ISIN: US646080RT01
- Entity Name: Higher Education Student Assistance Authority
- Sector: Municipal Agency
- Announcement Date: *****
- Effective Date: *****
- Issue Date: *****
- Maturity Date: *****
- Country of Issuer: *****
- Region: N.Amer
- Issue Currency: *****
- CA Type: Rating Upgrade
- News: S&P Global Ratings today raised its ratings on eight bonds from series 2010-1, 2012-1, 2013-1, 2014-1, 2015-1, 2016-1, and 2017-1 issued by New Jersey Higher Education Student Assistance Authority (HESAA) out of its 2010-1 and 2012 indentures. At the same time, we affirmed our ratings on 93 bonds from series 2010-1, 2012-1, 2013-1, 2014-1, 2015-1, 2016-1, and 2017-1 (see list). The bonds are backed by a pool of private student loans made under HESAA`s NJCLASS loan program. WWW.STANDARDANDPOORS.COM/RATINGSDIRECT FEBRUARY 4, 2019 1 The upgrades reflect the expected payoff of bonds maturing within the current year. To ensure the full payment of the bonds` principal at their stated maturity dates, on each mid-year payment date, the trustee will set aside 50% of the principal amount due in next six months. The upgrades also reflect the transactions` structural features, which restrict the use of such funds for other purposes. The affirmations reflect our view of each trust`s collateral performance, which supports our initial expected cumulative default assumptions. We believe the credit enhancement available is sufficient to support the bonds at their current ratings. The 2010-1 and 2012 trusts have both senior and subordinate bonds that pay interest semi-annually. The bonds are subject to various redemption provisions, including optional redemption, mandatory redemption resulting from non-origination, special optional redemption, and special mandatory redemption from excess revenues. For Bond Document please visit www.BondPDF.com
- Description: *****
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US646080RT01
