Fitch: U.S. Student Loan ABS Facing a Challenge in 2008.
NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- As 2007 rolls into 2008, the previously staid staid
1. Characterized by sedate dignity and often a strait-laced sense of propriety; sober. See Synonyms at serious.
2. world of student loan asset-backed securities (ABS) faces a number of significant challenges ahead. Economic and legislative pressures coupled with credit market dislocation have altered the issuer landscape and their access to funding. Auction rate market volatility has resulted in strong issuer desire to refinance into more economical instruments such as reset rate notes and variable rate demand obligations.
For more information, please see Fitch's newsletter 'The Student Loan Report Card' available on the Fitch Ratings Fitch Ratings
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