--Amelia Granger
The underlying collateral of the NextStudent Master Trust I will be auctioned Wednesday and it will be the first liquidation of its type (TS, 7/8). Losses to senior noteholders are expected to run as high as 7% from the liquidation, while subordinate noteholders will likely receive no money at all from the sale, according to Moody’s Investors Service.
The deal originally suffered rating downgrades due to ....