College Ave Student Loans’ Latest Securitization Receives AAA S&P Rating
The CASL 2021-B securitization is the second this year; reflects growing demand for student loans and bonds from College Ave Student Loans
WILMINGTON, Del., July 21, 2021 / PRNewswire / – College Ave Student Loans announced it has completed a $ 279.6 million securitization of private student loans, its second for 2021 and the first to receive an AAA rating from S&P Global. In addition, DBRS Morningstar also rated the CASL 2021-B AAA Senior Notes, as it did for past securitizations.
âObtaining AAA ratings from DBRS and S&P is a significant milestone for the company,â said Joe DePaulo, CEO and Co-Founder of College Ave Student Loans. “AAA ratings are testament to the consistency of our portfolio performance and reflect the strength of College Ave’s business model.”
Finished in June 2021, the CASL 2021-B transaction is the company’s fifth securitization and brings the total amount of securitized loans to more than $ 1.3 billion. As with past securitizations, the CASL 2021-B transaction saw significant investor demand and high levels of oversubscription with regular investors and new entrants across the capital structure. Investor demand for available bonds was 4.9x. Barclays and Morgan Stanley were the associated bookkeepers on the transaction.
âCASL 2021-B is our most successful ABS show to date,â said DePaulo. âThe high market response recognizes our company’s accomplishments, its premier lending platform, and its incredible reputation within the investment community. “
Securitization reflects a year of strong performance for College Ave. The company continues to expand its product line, recently announcing the new graduate healthcare professional loan to its portfolio. Forbes Advisor, NerdWallet and Money also named College Ave among the winners of their âBest of 2021â award list in the private student loans category.
About College Ave Student Loans
College Ave Student Loans started with a big vision and a simple mission: to take the stress out of paying for college education so that students can focus on building a bright future. Now a leading fintech lender, College Ave remains committed to using the best technology and in-depth industry expertise to deliver practical, personal solutions that give young adults a great start on the path to financial success. We offer best-in-class products with competitive pricing and a user-friendly experience from start to finish. Visit: www.collegeavestudentloans.com
View original content: https://www.prnewswire.com/news-releases/college-ave-student-loans-latest-securitization-earns-aaa-sp-rating-301337888.html
Student Loans SOURCE College Ave