DBRS Morningstar Confirms Provisional Ratings on North Texas Higher Education Authority, Inc. Series 2021-1.
ENPNewswire-September 15, 2021--DBRS Morningstar Confirms Provisional Ratings on North Texas Higher Education Authority, Inc. Series 2021-1
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Release date- 14092021 - DBRS, Inc. (DBRS Morningstar) confirmed its provisional ratings on the following series of notes to be issued by North Texas Higher Education Authority, Inc. Series 2021-1 (NTHEA 2021-1).
Up to $118,000,000 Class A-1A Notes rated AAA (sf)*
Up to $418,000,000 Class A-1B Notes rated AAA (sf)*
$10,000,000 Class B Notes rated A (sf)
*The minimum principal amount of the Class A-1A Notes that will be issued will be $50,000,000 and the maximum principal amount of the Class A-1A Notes that will be issued will be $118,000,000. The Class A Notes will be issued in an amount of $468,000,000.
The transaction assumptions consider DBRS Morningstar's baseline macroeconomic scenarios for rated sovereign economies, available in its commentary 'Baseline Macroeconomic Scenarios For Rated Sovereigns,' published on September 8, 2021. These baseline macroeconomic scenarios replace DBRS Morningstar's moderate and adverse Coronavirus Disease (COVID-19) pandemic scenarios, which were first published in April 2020. The baseline macroeconomic scenarios reflect the view that, although COVID-19 remains a risk to the outlook, uncertainty around the macroeconomic effects of the pandemic has gradually receded. Current median forecasts considered in the baseline macroeconomic scenarios incorporate some risks associated with further outbreaks, but remain fairly positive on recovery prospects given expectations of continued fiscal and monetary policy support. The policy response to COVID-19 may nonetheless bring other risks to the forefront in the coming months and years.
ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.
Notes:
All figures are in U.S. dollars unless otherwise noted.
The principal methodology is Rating U.S. Federal Family Education Loan Program Securitizations (February 19, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.
For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press...
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