Fitch Rates $50MM Maine Educational Loan Authority, Student Loan Revenue Bonds 2007 'AAA'.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 -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. assigns an 'AAA' rating to the Maine Educational Loan Authority's (MELA Mela Maatalousyrittäjien Eläkelaitos (Espoo, Finland) MELA Middle East Librarians Association MELA Mothers of East Los Angeles (Latina community group) MELA Metro East Landlords Association ) Student Loan Revenue Bonds (Supplemental Education Loan Program), Series 2007A-1. The Student Loan Revenue Bonds, Series 2007A-1 are one-year tax-exempt auction rate securities. The following senior student loan revenue bonds have been confirmed: --$12,500,000 Series 1996A-1, 'AAA'; --$10,000,000 Series 1997A-1, 'AAA'; --$14,000,000 Series 1999A-1, 'AAA'; --$10,000,000 Series 2000A-1, 'AAA'; --$3,690,000 Series 2002A-1, 'AAA'; --$17,925,000 Series 2002A-2, 'AAA'; --$30,000,000 Series 2005A-1, 'AAA'. The ratings on the bonds are based upon a financial guaranty insurance policy provided by Ambac Assurance Corporation Ambac Assurance Corporation A subsidiary of publicly traded Ambac Financial Group that provides financial guarantees for municipal borrowers and for asset-backed and structured issues. , whose claims paying ability is rated 'AAA' by Fitch. The series 2007A-1 bonds in the principal amount of $50,000,000 bear interest at a 35-day auction rate and mature on June 1, 2041. The series 2007A-1 bonds are one-year auction rate securities that pay interest semi-annually on each Rate Adjustment Date in May and December 1st, commencing December 1, 2007. Citigroup is the lead underwriter on this transaction. Additional debt may be issued under the indenture with rating agency affirmation of debt then outstanding. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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