PAA Research Comments on Corinthian Colleges

PAA Research provided color on Corinthian Colleges COCO and its private loan facility with ASFG in a research report published today. In the report, PAA Research states, "We are lowering our FY12 EPS estimates to reflect the loss of interest income going forward as AFGC funded loans replace the Genesis loan program and COCO incurs higher fees as part of this new “private loan” arrangement. We have not made any changes to our enrollment, revenue-per-student, or operating margin assumptions." Shares of Corinthian Colleges were trading at $4.26 at the time of posting, up 3.40% from Wednesday's market close.