Fitch Affirms Oklahoma Student Loan Authority's Series 2008II A-1 at 'A+'.NEW YORK -- Fitch Ratings affirms the long- and short-term ratings of the Oklahoma Student Loan Authority's Oklahoma student loan bonds and notes, senior variable rate demand obligations, series 2008II A-1 bonds (the bonds) at 'A+' and 'F1+', respectively. In addition, Fitch assigns a Stable Rating Outlook to the long-term rating.
The ratings are based on the support provided by a direct-pay letter of credit (LOC LOC - lines of code ) issued by Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. N.A. (BofA), providing full support to the bonds. BofA is obligated to make payments of interest and principal on the bonds upon maturity, acceleration and redemption, as well as the purchase price for tendered bonds.
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