New York, July 12, 2013 -- Moody's announced today that the sale and release of approximately $38 million loans from the lien of the Pennsylvania Higher Education Assistance Agency ("PHEAA") (1997 Indenture) would not, in and of itself and as of this time, result in the downgrade or withdrawal of the outstanding ratings assigned to bonds issued from the PHEAA (1997 Indenture).

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