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TMCNet:  Fitch Affirms Brazos Student Finance Corp., Series 2009-1

[November 13, 2012]

Fitch Affirms Brazos Student Finance Corp., Series 2009-1

NEW YORK --(Business Wire)--

Fitch Ratings affirms the senior student loan notes of Brazos Student Finance Corp., Series 2009-1. The Negative Outlook is maintained on the senior notes.

The affirmations of the senior notes are based on sufficient level of enhancement in the trust, consisting of any combination of subordination, overcollateralization, and projected minimum excess spread to cover the applicable risk factor stresses. The trust's senior parity is reported to be 163.21% and the senior subordinate parity is reported to be 159.96% as of the Aug. 30, 2012 servicer report. The collateral is consisted of 87.3% FFELP loans and 12.7% private student loans. The Negative Outlook on the senior notes is tied to the outlook on the U.S. sovereign rating.

Fitch affirms the following ratings:

Brazos Student Finance Corp. Series 2009-1:

--Class A at 'AAAsf'; Outlook Negative;

--Class A-S 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 Crteria' dated Jun. 6, 2012;

--'U.S. Private Student Loan ABS (News - Alert) Criteria' dated Jan. 31, 2012;

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS' dated Apr. 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

U.S. Private Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm rpt_id=667570

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 (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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