Student loan servicer Navient is marketing another $497 million of securities backed by federally guaranteed student loans, according to rating agency reports.    

Navient Student Loan Trust 2016-2 pools Federal Family Education Loan Program (FFELP) loans with a total outstanding balance of $510.25 million and includes a 20% slice of previous defaulted loans that have entered rehabilitation. The trust will issue three tranches of class A notes, each of which has received preliminary triple-A ratings from both Fitch Ratings and Moody’s Investors Service.

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