The Vermont Student Assistance Corp. is planning to issue a $15.87 million private student loan securitization, according to Fitch Ratings.
Fitch said today it plans to assign ‘A’ ratings of to three classes of fixed-rate senior notes due in 2017 2027 and 2030.
The deal is backed by approximately $20 million of new fixed-rate private student loans to be originated from deal’s closing through June 15, 2014, in addition to the existing $18.5 million currently in the sponsor’s 2012 Master Trust.
Day-to-day servicing will be provided by VSAC, which has been servicing its own private loans since 1994.
In November 2012, the VSAC issued $755 million of ‘AAA’-rated floating rate notes and $15.5 million of ‘B’-rated floating rate notes from the same master trust.