Nelnet is in the market with a $408 million student loan securitization that is backed by rehabilitated Federal Family Education Loan Program (FFELP) loans.

The deal, called Nelnet Student Loan Trust 2013-5, has been assigned preliminary ratings by Fitch Ratings and Moody’s Investors Service. The $399 million, class A notes are rated ‘AAA’/ ‘Aaa’; and the $9 million, class B notes are rated ‘A’/‘A2’.

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