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2015-12-24 — bloomberg.com
The credit-ratings company warned last week that $37.5 billion of securities tied to loans made under the Federal Family Education Loan Program face downgrades due to slow repayments that could push the bonds into technical default. There's only one problem: the number was wrong.
In a corrected estimate, Fitch now says the value of bonds on review for downgrade is actually $71.2 billion, according to a release from spokeswoman Hannah James... The new estimate represents over 40 percent of the entire universe for bonds outstanding tied to government-backed FFELP student loans...
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