Fitch ranks R.I. student loan authority ‘stable’

By PBN Staff

NEW YORK – Fitch Ratings ranked the Rhode Island Student Loan Authority 2012 senior series A student loan program revenue bonds as “stable,” according to a news release dated Thursday.

The global rating agency also confirmed the existing “Asf” ratings on the Student Loan Authority’s outstanding 2009 senior series, 2010 senior series A and 2010 senior series B bonds.

The 2009, 2010 series A and 2010 series B bonds were upgraded to “stable” from “negative.”

The Student Loan Authority is a nonprofit state authority providing $25 million annually in low-cost, education loans to students and families. In its 18-year history, less than 2 percent of its loans have defaulted.