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MOODY'S ASSIGNS 'Aa3' RATING TO GREAT LAKES HIGHER EDUCATION CORPORATION

MOODY'S ASSIGNS 'Aa3' RATING TO GREAT LAKES HIGHER EDUCATION CORPORATION
 NEW YORK, Aug. 19 /PRNewswire/ -- Effective today, Moody's Investors Service assigned an "Aa3" claims-paying rating to Great Lakes Higher Education Corporation, a student loan guarantee agency based in Madison, Wis. It is the second guarantee agency to be assigned a rating. The effectiveness of its full-service operations, the quality of management and the competitive position of this regionally-based guarantor were cited as primary credit considerations. Moody's also noted that "recent improvement in performance is expected to continue as the corporation's portfolio becomes more seasoned and the exposure to proprietary paper continues its downward trend." With respect to Great Lakes' financial strength, Moody's noted that "current reserve levels provide an adequate degree of liquidity and solvency in fulfilling its claims-paying obligations, with sufficient capitalization projected under stressful scenarios over the long-term." Great Lakes' servicing operations have exhibited a solid track record with strong in-house support.
 -0- 8/19/92
 /CONTACT: Peter Tommaney, 212-553-4091, or Marc Paskulin, 212-553-7759, both of Moody's/ CO: Great Lakes Higher Education Corporation ST: Wisconsin IN: SU: RTG


SM-SH -- NY058 -- 1440 08/19/92 15:39 EDT
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Publication:PR Newswire
Date:Aug 19, 1992
Words:189
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