Fitch Affirms South Texas Higher Education Authority Series 2012-1 Notes
NEW YORK–()–Fitch Ratings affirms the senior notes at ‘AAAsf’ issued by South Texas
Higher Education Authority Series 2012-1. The Rating Outlook on the
notes, 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 ratings on the senior notes are affirmed based on the sufficient
level of credit to cover the applicable risk factor stresses. Credit
enhancement for the senior and subordinate notes consists of
overcollateralization and projected minimum excess spread.
Fitch has taken the following rating actions:
South Texas Higher Education Authority Series 2012-1:
–Class A-1 affirmed at ‘AAAsf’; Outlook Negative;
–Class A-2 affirmed at ‘AAAsf’; Outlook Negative;
–Class A-3 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’ dated June 6, 2012;
–’Rating U.S. Federal Family Education Loan Program Student Loan ABS
Criteria’ dated 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
Article source: PRNewswire
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