S&P: One Rating Raised And One Affirmed On Education Funding 2006-1 LLC

S&P Global Ratings today raised its rating on the class A-2 notes and affirmed its rating on the class A-3 notes from Education Funding 2006-1 LLC, an asset-backed securities transaction backed by a pool of private student loans.

The upgrade of our rating on the class A-2 notes reflects our view that available credit enhancement is sufficient to support the higher rating. The affirmation of our rating on the class A-3 notes reflects our view of the transaction's collateral performance, the credit enhancement available to this class, and the application of our criteria for assigning 'CCC (sf)' ratings.

We considered the transaction's collateral performance, changes in credit enhancement, and capital and payment structures in our review. We also considered secondary credit factors, such as credit stability and an issuer-specific analysis.

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