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Fitch Ratings has downgraded the long-term ratings for the Oklahoma Student Loan Authority's Oklahoma student loan bonds and notes, senior variable-rate demand obligations, series 2008II A-1 bonds to A+ from AA-. The ratings are based on the support provided by a direct-pay letter of credit issued by Bank of America providing full support to the bonds.
Fitch Ratings has assigned 'AA-/F1+' ratings to the Oklahoma Student Loan Authority's $175.3 million student loan bonds and notes, senior variable-rate demand obligations, series 2008II A-1 bonds. The ratings were based on the support provided by a direct-pay letter of credit issued by Bank of America securing the bonds. The bank is obligated to make payments of principal and interest on the bonds upon maturity, acceleration and redemption, as well as the purchase price for tendered bonds.
Kay Brezny was promoted to vice president of the Oklahoma Student Loan Authority. Brezny previously served as director of marketing. Brezny is responsible for the marketing strategy of the Oklahoma Student Loan Authority and manages the field sales team and marketing specialist, consolidation loan program, publications and business development.
The Oklahoma Council of Bond Oversight approved $65.8 million in bonds Thursday for several projects at the University of Oklahoma and $175 million to be issued by the Oklahoma Student Loan Authority. State Bond Advisor Jim Joseph told the panel that the OU request included $57 million in tax-exempt, fixed-rate revenue bonds and $8.69 million in taxable, fixed-rate revenue bonds.
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