Press Releases
TERI ASSIGNED AN "A" ISSUER RATING BY DBRS
May 22, 2007
DBRS has assigned its “A” Issuer Rating to TERI, a non-profit guarantor of private loans. The rating is based on TERI’s solid market presence, consistently improving operating performance, considerable loan guarantee growth, high asset quality and conservative loan loss provisioning profile. The Stable rating trend reflects DBRS’s opinion that TERI will continue to effectively manage its risks, further diversify its sources of new guarantee volume and maintain strong loss reserves.
“TERI’s sound loan loss reserve practices and its ample reserve levels are strengths of TERI and the leading factor underpinning the DBRS rating” said Steven Picarillo, DBRS Senior Vice President - U.S. Financial Institutions Group. “Also factored into the DBRS rating is TERI’s overall high asset-quality measures and the strength of its guarantee book of high-quality borrowers.”
“We are extremely pleased with DBRS’s rating,” said Willis J. Hulings III, TERI President and CEO. “This helps solidify TERI’s strong reputation as a high performing, well-managed guarantor in the private student loan industry. TERI’s balanced profile allows our staff to maintain focus on helping students and families realize their educational dreams.”
DBRS is a full-service rating agency established in 1976. Privately owned and operated without affiliation to any financial institution, DBRS is respected for its independent, third-party evaluations of corporate and government issues. DBRS's extensive coverage of securitizations and structured finance transactions solidifies its standing as a leading provider of comprehensive, in-depth credit analysis.
TERI is the largest and most experienced guarantor of private education loans. As a national nonprofit organization, TERI is committed to expanding college access and success for underserved students. TERI manages direct service programs and national partnerships with the goal to help low-income, first generation students access a postsecondary education. In its 22 year history, TERI has helped over 2 million individuals access and finance a college education.
TERI (The Education Resources Institute), a nonprofit organization in Boston, Massachusetts was founded in 1985 and promotes educational opportunities for all through its college access and loan guarantee activities.
TERI’s loan guarantee programs help students close the gap between education costs and their other resources such as financial aid, savings and family support. TERI is the oldest and largest guarantor of private (non-government) student loans with more than $12 billion in outstanding guarantees. TERI brings together lenders, schools, students and families to make available low-cost, high quality financing for postsecondary education.
TERI is a national leader in promoting strategies for improving college access. The company manages college access programs that target low-income individuals and those who are the first generation in their families to attend college. These programs raise student and adult aspirations to include college and other post-secondary education, provide guidance and information directly to students and their families on planning and paying for college, and support increased student achievement in middle and high schools. TERI is also the director of the Pathways to College Network, an alliance of over 30 nonprofit organizations and funders committed to advancing college access and success for underserved students.
For more information: www.tericollegeaccess.org or www.teri.org.