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| [January 02, 2013] |
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Fitch Affirms State of North Carolina State Education Assistance Authority 2011-1 Notes
NEW YORK --(Business Wire)--
Fitch Ratings has affirmed the senior student loan notes issued by State
of North Carolina State Education Assistance Authority 2011-1 at
'AAAsf.' The Rating Outlooks, which are tied to the sovereign rating of
the U.S. government, remain Negative.
Fitch affirms the ratings on the notes based on the sufficient level of
credit enhancement to cover the applicable risk factor stresses. Credit
enhancement for the notes consists of overcollateralization and
projected minimum excess spread.
Fitch used its 'Global Structured Finance Rating Criteria' and 'Rating
U.S. Federal Family Education Loan Program Student Loan ABS' (News - Alert) to review
the ratings.
Fitch has affirmed the following ratings:
State of North Carolina State Education Assistance Authority 2011-1:
--A-1 at 'AAAsf'; Outlook Negative;
--A-2 at 'AAAsf'; Outlook Negative;
--A-3 at 'AAAsf'; Outlook Negative.
Additional information is available at 'www.fitchratings.com'.
The ratings above were solicited by, or on behalf of, the isuer, and
therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Global Structured Finance Rating Criteria' (June 6, 2012);
--'Rating U.S. Federal Family Education Loan Program Student Loan ABS'
(April 3, 2012).
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm rpt_id=679923
Rating U.S. Federal Family Education Loan Program Student Loan ABS
Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm rpt_id=675202
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 (News - Alert) 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.
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