The Higher Education Loan Authority of the State of Missouri is in the market with a FFELP-backed ABS.
The $1.078 billion transaction is led by Bank of America Merrill Lynch and Morgan Stanley.
Preliminary details on the three-tranche deal are available via the link below from the ASR Scorecard database.
Total initial credit enhancement increased to 11.40% for the class D notes, from 11.25%. It also decreased for classes B, C and E, and levels on the class A notes stayed the same.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
The highly diversified pool mix consists of 29 different aviation asset types, with a third being new and emerging technology aircraft, and 45.7% are current technology aircraft.
The secondary market regulator will formally publish its own rule on Feb. 6, after a comment period and without making changes to what it proposed in July.
The deal will not make any principal payments during the revolving period unless it needs the cashflow to maintain the required overcollateralization amount.
Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
