Moody’s Investors Service upgraded a long-term letter-of-credit backed rating to Aa2 from A1 and confirmed the short-term VMIG 1 rating of the Vermont Student Assistance Corp.’s education loan senior revenue bonds, Series 2008C-1 and C-2.

The rating, on review for possible downgrade, comes in conjunction with the substitution of the existing LOC, provided by Lloyds TSB Bank Plc, with a new LOC to be provided by State Street Bank and Trust Co.

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