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TMCNet:  Fitch Affirms South Carolina Student Loan Corp. Trusts

[November 09, 2012]

Fitch Affirms South Carolina Student Loan Corp. Trusts

NEW YORK --(Business Wire)--

Fitch Ratings has affirmed all senior student loan notes issued by three South Carolina Student Loan Corp. trusts at 'AAAsf', respectively. The Rating Outlook for the notes, which is tied to the sovereign rating of the U.S. government, remains 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 senior 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:

South Carolina Student Loan Corp. - 1996 General Resolution (SC)

--Class 2005 A-1 affirmed at 'AAA'; Outlook Negative;

--Class 2005 A-2 affirmed at 'AAA'; Outlook Negative;

--Class 2005 A-3 affirmed at 'AAA'; Outlook Negative;

--Class 2006 A-1 affirmed at 'AAA'; Outlook Negative;

--Class 2006 A-2 affirmed at 'AAA'; Outlook Negative.

South Carolina Student Loan Corp, Series 2008-1

--Class A-2 affirmed at 'AAA'; Outlook Negative;

--Class A-3 affirmed at 'AAA'; Outlook Negative;

--Class A-4 affirmed at 'AAA'; Outlook Negative.

South Carolina Student Loan Corp. Series 2010-1 Notes

--Class A-1 affirmed at 'AAA'; Outlook Negative;

--Class A-2 afirmed at 'AAA'; Outlook Negative;

--Class A-3 affirmed at 'AAA'; 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' (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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