Wall Street has cast a favorable eye toward the financial performance of a batch of notes backed by college loans issued to Connecticut students and parents.
Fitch Ratings said Friday it affirms and maintains its stable rating outlooks to all the private student loan asset-backed notes issued under the Connecticut Higher Education Supplemental Loan Authority (CHESLA) 1990 amended and restated (1996 Resolution).
Fitch said its affirmations are based on itsreview of cash flow analysis that incorporated the overcollateralization and the support from the Special Capital Reserve Fund (SCRF). The SCRF is rated ‘AA-‘ by Fitch, one notch below the ‘AA’ rating for Connecticut’s general obligation bonds.
The college loans in the trust originated under the Connecticut Family Education Loan Program.
