Fitch Ratings affirms the following ratings for Access Group, Inc. under the 2002 Indenture of Trust (Access Group 2002):
--Senior student loan asset-backed notes at 'AAAsf';
--Subordinate student loan asset-backed notes at 'Bsf'.
A detailed list of affirmed ratings appears at the end of the press release.
The collateral supporting the notes is comprised of student loans originated under the Federal Family Education Loan Program (FFELP). The Rating Outlook remains Negative for the senior notes and Stable for the subordinate notes. The Negative Outlook on the senior notes is tied to the outlook on the U.S. sovereign rating.
Fitch utilized its 'Global Structured Finance Rating Criteria,' and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings.
The rating affirmations are based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement consists of any combination of overcollateralization and projected minimum excess spread. In addition, the senior notes also benefit from subordination provided by the class B notes.
Fitch has affirmed the following ratings and corresponding Outlooks:
Access Group, Inc. Federal Student Loan Asset-Backed Notes, issued under the 2002 Indenture of Trust:
--2002-1 A-2 at 'AAAsf'; Outlook Negative;
--2002-1 A-3 at 'AAAsf'; Outlook Negative;
--2002-1 A-4 at 'AAAsf'; Outlook Negative;
--2003-1 A-2 at 'AAAsf'; Outlook Negative;
--2003-1 A-3 at 'AAAsf'; Outlook Negative;
--2003-1 A-4 at 'AAAsf'; Outlook Negative;
--2003-1 A-5 at 'AAAsf'; Outlook Negative;
--2003-1 A-6 at 'AAAsf'; Outlook Negative;
--2004-1 A-1 at 'AAAsf'; Outlook Negative;
--2004-1 A-2 at 'AAAsf'; Outlook Negative;
--2004-1 A-3 at 'AAAsf'; Outlook Negative;
--2004-1 A-4 at 'AAAsf'; Outlook Negative;
--2004-1 A-5 at 'AAAsf'; Outlook Negative;
--2002-1 B at 'Bsf'; Outlook Stable;
--2003-1 B at 'Bsf'; Outlook Stable;
--2004-1 B at 'Bsf'; Outlook Stable.
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' (Aug. 13, 2010);
--'Rating U.S. Federal Family Education Loan Program Student Loan ABS' (April 7, 2011).
--'U.S. FFELP Student Loan ABS Surveillance Criteria' (May 10, 2011).
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria
|12:51 AM||Bowlmor Joins AMF’s Existing Second Lien Lenders, Including Cerberus and Credit Suisse to Sponsor New Chapter 11 Plan for AMF Bowling Worldwide|
|12:16 AM||Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Navistar International Corporation|
|Fri, May 17, 2013|
|10:20 PM||Erickson Air-Crane Announces Purchase of Five Aircraft|
|09:48 PM||Addivant to Showcase New Identity, Unveil Renewable Resource-Derived Products and Present Technical Seminar at Chinaplas 2013|
|09:45 PM||Addivant Showcases New Identity and Unveils Renewable Resource-Derived Products at Feiplastic 2013|
|08:45 PM||Palestinian Prime Minister Salam Fayyad Talks to State 194 Director Dan Setton|
|08:05 PM||Deutsche Asset & Wealth Management Introduces the First Hedged Equity German Exchange Traded Fund to the U.S. Marketplace|
|07:58 PM||Grants Will Provide Up to $7.5M for Open Space Protection in Five Bay Area Counties|
|07:45 PM||Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Hot Topic, Inc.|
|07:21 PM||DPR Construction’s Phoenix Office First Net-Zero Energy Commercial Building in Arizona|
|07:20 PM||Felman Production, LLC Announces Strategic Cost Reduction Measures|
|07:03 PM||Chevron Recognizes Parman Energy for Strong Lubricant Sales Performance|
|06:55 PM||Actis Wunderman’s Anya Sverdlov to Head Internet Jury at IDEA! Festival in Russia|
|06:51 PM||Atlas Financial Holdings Announces Expiration of Warrant Tender|
|06:46 PM||Sterling Bank Named Top Corporate Philanthropist by Puget Sound Business Journal|
|06:42 PM||Community Valley Bank Announces Retirement of President and Chief Executive Officer Robert “Bob” Hahn and Appointment of Jon Edney as Acting President and CEO|
|06:32 PM||Rent-A-Center Donates to Youth Automotive Training Center|
|06:32 PM||Ben & Jerry's Welcomes Back White Russian|
|06:28 PM||Pacific Drilling Announces Pricing of Private Offering of $750 Million of 5.375% Senior Secured Notes Due 2020|
|06:11 PM||Sun Products to Release Quarterly Report and Host Earnings Conference Call|
|06:05 PM||Halliburton Annual Meeting of Stockholders and Dividend Declaration|
|06:04 PM||Farmers & Merchants Bank of Long Beach Declares Second-Quarter Cash Dividend of $22 Per Share|
|05:45 PM||Ernst & Young Names Borderfree CEO and President Michael DeSimone as Finalist for Entrepreneur of the Year® 2013 in New York|
|05:37 PM||Fitch Affirms Chesapeake Energy's LT IDR at 'BB-'; Outlook Stable|
|05:26 PM||US Foods Announces Plans to Seek to Refinance Existing Term Loans|
|05:22 PM||MakerBot® Joins MoMA Design Store for Destination: NYC – Made in the USA|
|05:21 PM||Intel ISEF Winners Photo Available on Business Wire's Website and AP PhotoExpress|
|05:18 PM||MakerBot® and Autodesk® at Maker Faire San Mateo May 18 and 19|
|05:15 PM||AFC Enterprises Announces First Quarter 2013 Earnings Conference Call and Webcast|
|05:14 PM||Fitch Releases Updated Report on 'State Revolving Fund and Leveraged Municipal Loan Pool Criteria'|
|More Press Releases From Business Wire News Releases|