Navient prices FFELP deal, signals shift to refi loans
Student loan servicer Navient priced a Federal Family Education Loan Program (FFELP) ABS to red hot demand this week, but company executives said they are turning their focus away from the legacy FFELP programme and toward the student loan refinancing sector.
GlobalCapital reported on Tuesday that Navient had to increase its deal size from $760.8m to $1bn, prompting S&P Global Ratings, Moody’s Investor Service and DBRS to take another look at the deal.The rating agencies ultimately did not change the initial ratings, despite their updated outlook on the ...
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