Iowa student loan liquidity corp
S&P Rates Iowa Student Ln Liquidity Corp Bnd Ser 2003
Business Editors
NEW YORK--(BUSINESS WIRE)--March 27, 2003
Standard & Poor's-- Standard & Poor's Ratings Services today assigned its 'AAA' rating to Iowa Student Loan Liquidity Corp.'s $550 million student loan revenue bonds series 2003.
The rating is based primarily on a financial guaranty insurance policy provided by Ambac Assurance Corp. ('AAA' insurer financial strength rating) that guarantees payment of principal and interest on the bonds. Standard & Poor's has determined that the transaction is of investment-grade quality, before issuance of the financial guaranty policy, based on overcollateralization beginning at approximately 3% and excess spread.
Copyright 2003, Standard & Poor's Ratings Services
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Iowa student loan corp