Student Loan | Fitch Affirms Senior Notes Of State Of North Carolina State Education Assistance Authority 2011-1
January 28, 2012 – 8:59 am
NEW YORK–(BUSINESS WIRE)– Fitch Ratings has affirmed the State of North Carolina State Education Assistance Authority 2011-1 senior notes at ‘AAAsf’ with a Negative Rating Outlook. The Negative Outlook is tied to the U.S. sovereign rating.
Fitch used its ‘Global structured Finance Rating Criteria,’ ‘U.S. FFELP student Loan ABS Rating Criteria’ and ‘Rating U.S. Federal Family Education Loan Program Student Loan ABS’ to review the ratings.
The ratings on the senior notes are affirmed based on the sufficient level of credit to cover the applicable risk factor stresses. Credit enhancement for the notes consists of overcollateralization and projected minimum excess spread.
Fitch has taken the following rating actions:
State of North Carolina State Education Assistance Authority Series 2011-1
–Class A-1 affirmed at ‘AAAsf’; Outlook Negative;
–Class A-2 affirmed at ‘AAAsf’; Outlook Negative;
–Class A-3 affirmed at ‘AAAsf’; Outlook Negative.
Additional information is available at www.fitchratings.com . The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
–’Global Structured Finance Rating Criteria’ dated Aug. 4, 2011;
–’Rating U.S. Federal Family Education Loan Program Student Loan ABS’ dated April 7, 2011;
–’U.S. FFELP Student Loan ABS Surveillance Criteria’ date May 10, 2011.
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria
U.S. FFELP Student Loan ABS Surveillance Criteria
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