CINCINNATI, July 6, 2012 /PRNewswire/ -- KnowledgeFunding Ohio has announced that it is not prepared at this time to proceed with its plans, which were originally announced on June 8, 2012, to restructure its outstanding Series 2005 Bonds and Series 2006 Bonds by making an offer to exchange for its outstanding Senior Series 2005 Bonds and Senior Series 2006 Bonds. KnowledgeFunding Ohio intends to restructure its outstanding Series 2005 Bonds and Series 2006 Bonds through alternative methods.
About KnowledgeFunding Ohio, Inc.
KnowledgeFunding Ohio, Inc. is an Ohio nonprofit corporation and an affiliate of KnowledgeWorks Foundation, an Ohio private nonprofit corporation whose purpose is to assist individuals in obtaining an education. KnowledgeFunding Ohio is organized and operated exclusively for the charitable and educational purposes of acquiring student loans incurred under the Higher Education Act, as amended. KnowledgeFunding Ohio has been requested by the State of Ohio to be organized and authorized to issue "qualified scholarship funding bonds" pursuant to Section 150(d) of the Internal Revenue Code, as amended.
SOURCE KnowledgeFunding Ohio, Inc.