Oct. 19, 2009 (Business Wire) -- Following its monthly surveillance review of U.S. Student Loan asset-backed securities (ABS) transactions, Fitch Ratings designated 12 U.S. FFELP and private student loan ABS deals as 'Under Analysis', indicating that Fitch intends to issue a rating action within 30 days. A rating action could include an affirmation, upgrade, downgrade or placement on Rating Watch.
Five hundred and twenty two Student Loan ABS deals were designated with a SMARTView date of Oct. 19, 2009, indicating that performance has been reviewed and a rating action is not anticipated within the next 30 days.
The following transactions have been placed 'Under Analysis' because they will be subject to a periodic in-depth review:
--Nelnet Student Loan Trust 2003-2;
--Nelnet Student Loan Trust 2005-4;
--Nelnet Student Loan Trust 2007-1;
--Nelnet Student Loan Trust 2007-2;
--SLM Student Loan Trust 2002-7;
--SLM Student Loan Trust 2003-2;
--SLM Student Loan Trust 2003-5;
--SLM Student Loan Trust 2003-10;
--SLM Student Loan Trust 2006-7;
--SLM Student Loan Trust 2007-4;
--SLM Student Loan Trust 2007-5;
--NorthStar Guarantee, Inc. - 2000 Trust Indenture
To review a list of deals 'Under Analysis' use the following link (accessible to all users of the Fitch web site):
www.fitchratings.com/smartview
As Fitch receives monthly information on student loan ABS transactions from trustees and servicers, Fitch analysts run the data through various internal algorithms which identify classes of a transaction as possible candidates for upgrade or downgrade. Fitch's analysts scrutinize the output to decide which deals need further review, which are noted as 'Under Analysis'. Deals not selected for further review are given a SMARTView date indicating that the performance information has been reviewed as of that date.
A transaction may also be designated as 'Under Analysis' when a review is undertaken because of a material event affecting the transaction or when a regular, more in-depth periodic review is being performed. While transaction performance is reviewed monthly, Fitch conducts detailed portfolio reviews at least annually.
SMARTView is available on the Fitch Ratings web site at 'www.fitchratings.com', along with the report titled 'SMARTView, Fitch U.S. Structured Finance Monthly Public Reviews'.
Additional information is available at 'www.fitchratings.com'.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
