S&P rates Ky. student loan bonds AA/A-1+

Standard & Poor's said it assigned AA/A-1+ ratings to Kentucky Higher Education Student Loan Corp.'s student loan revenue bonds, including $179.525 million series 2008A-1 (tax-exempt), $83.4 million series 2008A-2 (tax-exempt) and $37.075 million series 2008A-3 (taxable).

The ratings are based on a letter of credit provided by Bank of America NA and State Street Bank and Trust Co. Each bank is severally and not jointly liable for a portion of the available amount of the LoC.

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