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DBRS rates Nelnet BBB (low)
DBRS said it assigned a senior unsecured debt rating of BBB (low) to Nelnet, Inc.
The trend is stable.
The ratings reflect Nelnet’s strong franchise in the education-related services market and the progress achieved by the company in executing its strategic transformation to a fee-based business model from a lending-oriented model, DBRS said.
The ratings also consider Nelnet’s low-risk balance sheet, high-quality earnings and strengthening capital base, the agency said.
The ratings also consider the additional work to be done to expand the fee-related businesses to offset the moderation in interest income over the long-term as the Federal Family Education Loan Program loan portfolio runs down, DBRS said.
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