Market Overview

Fitch Affirms Senior Note of Scholar Funding Trust 2011-A

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings affirms the senior student loan note at 'AAAsf' issued by Scholar Funding Trust 2011-A. The Rating Outlook, which is tied to the sovereign rating of the U.S. government, remains Negative. Fitch used its 'Global Structured Finance Rating Criteria', and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings.

The rating on the senior note is affirmed based on the sufficient level of credit to cover the applicable risk factor stresses. Credit enhancement for the senior note consists of overcollateralization and projected minimum excess spread.

Fitch has taken the following rating action:

Scholar Funding Trust 2011-A:

--Class A 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'(June 6, 2012);

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria' (April 3, 2012).

Applicable Criteria and Related Research:

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675202

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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.

Fitch Ratings
Primary Analyst:
Victoria Ohorodnyk, +1-212-908-0866
Analyst
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Michael Dean, +1-212-908-0556
Managing Director
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
sandro.scenga@fitchratings.com

 

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