The Pennsylvania Higher Education Assistance Agency plans to issue a $611.8 million of bonds backed by Federal Family Education Loan Program (FFELP) student loans.

The securitization trust, PHEAA Student Loan Trust 2014-2', will offer $597 million of class A notes rated ‘AAA’/ ‘AA+’ by Fitch Ratings and Standard & Poor’s, respectively. Credit enhancement for the notes is at 3.39%. Fitch expects to rate the $14.8 million subordinate notes, ‘A+’.

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