Fitch Ratings Affirms 327 ABS Student Loan Bonds

Business Wire, Oct 5, 2007

NEW YORK -- Fitch Ratings has completed a portfolio review of student loan transactions which are either entirely wrapped by a bond insurer or fully backed by state capital reserve funds. Fitch has affirmed 327 classes based on the irrevocable bond insurance policy. The guaranty insurance policy covers the timely payment of principal and interest on the bonds.

The collateral securing the debt includes both Federal Family Education Loan Program (FFELP) and private loans. FFELP loans are guaranteed by an eligible guarantor to at least 97% of principal and accrued interest, depending on loan origination date. The FFELP loans are also reinsured by the U.S. Department of Education up to the same amounts.

Fitch has affirmed the following transactions based on the guarantee provided to them by Ambac (Insurer Financial Strength rated 'AAA' by Fitch):

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 1997

--Class A 7/1/08 at 'AAA'

--Class A 7/1/09 at 'AAA'

--Class A 7/1/10 at 'AAA'

--Class A 7/1/11 at 'AAA'

--Class A 7/1/12 at 'AAA'

--Class A 7/1/13 at 'AAA'

--Class A 7/1/14 at 'AAA'

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 1998

--Class A 7/1/08 at 'AAA'

--Class A 7/1/09 at 'AAA'

--Class A 7/1/10 at 'AAA'

--Class A 7/1/11 at 'AAA'

--Class A 7/1/12 at 'AAA'

--Class A 7/1/13 at 'AAA'

--Class A 7/1/14 at 'AAA'

--Class A 7/1/15 at 'AAA'

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 1999

--Class A 7/1/08 at 'AAA'

--Class A 7/1/09 at 'AAA'

--Class A 7/1/10 at 'AAA'

--Class A 7/1/11 at 'AAA'

--Class A 7/1/12 at 'AAA'

--Class A 7/1/13 at 'AAA'

--Class A 7/1/14 at 'AAA'

--Class A 7/1/15 at 'AAA'

--Class A 7/1/16 at 'AAA'

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 2000

--Class A 7/1/08 at 'AAA'

--Class A 7/1/09 at 'AAA'

--Class A 7/1/10 at 'AAA'

--Class A 7/1/11 at 'AAA'

--Class A 7/1/12 at 'AAA'

--Class A 7/1/13 at 'AAA'

--Class A 7/1/14 at 'AAA'

--Class A 7/1/15 at 'AAA'

--Class A 7/1/16 at 'AAA'

--Class A 7/1/17 at 'AAA'

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 2001

--Class A 7/1/08 at 'AAA'

--Class A 7/1/09 at 'AAA'

--Class A 7/1/10 at 'AAA'

CollegeInvest - March 1, 1999 Indenture of Trust, 1989

--Class A at 'AAA'

CollegeInvest - March 1, 1999 Indenture of Trust, 1990

--Class A at 'AAA'

CollegeInvest - March 1, 1999 Indenture of Trust, 1999

--Class A-2 at 'AAA'

--Class A-3 at 'AAA'

--Class A-4 at 'AAA'

Connecticut Higher Education Supplemental Loan Authority - Amended and Restated 1996 Master (CT), 1998

--Class A-07 at 'AAA'

--Class A-08 at 'AAA'

--Class A-09 at 'AAA'

--Class A-10 at 'AAA'

--Class A-11 at 'AAA'

--Class A-12 at 'AAA'

--Class A-13 at 'AAA'

--Class A-14 at 'AAA'

--Class A-15 at 'AAA'

--Class A-16 at 'AAA'

Connecticut Higher Education Supplemental Loan Authority - Amended and Restated 1996 Master (CT), 1999

--Class A 11/15/07 at 'AAA'

--Class A 11/15/08 at 'AAA'

--Class A 11/15/09 at 'AAA'

--Class A 11/15/10 at 'AAA'

--Class A 11/15/11 at 'AAA'

--Class A 11/15/12 at 'AAA'

--Class A 11/15/13 at 'AAA'

--Class A 11/15/18 at 'AAA'

Iowa Student Loan Liquidity Corporation 2005 C-I

--Class C-I at 'AAA'

Iowa Student Loan Liquidity Corporation 2005 C-II

--Class C-II at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 1996

--Class A-1 at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 1997

--Class A-1 at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 1999

--Class A-1 at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 2000

--Class A-1 at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 2002

--Class A-1 at 'AAA'

--Class A-2 at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 2005

--Class A-1 at 'AAA'

Maine Education Loan Authority 1996 Trust Indenture, 2007

--Class A-1 at 'AAA'

Maine Educational Loan Marketing Corp - Amended and Restated 1999 Indenture of Trust (1994) (ME), 1996

--Class A-2 at 'AAA'

Maine Educational Loan Marketing Corp - Amended and Restated 1999 Indenture of Trust (1994) (ME), 1997

--Class A-2 at 'AAA'

Maine Educational Loan Marketing Corp - Amended and Restated 1999 Indenture of Trust (1994) (ME), 1999

--Class A-2 at 'AAA'

--Class A-3 at 'AAA'

Massachusetts Educational Financing Authority- 1997 General Resolution (MA), 1998

--Class A 12/1/07 at 'AAA'

--Class A 12/1/08 at 'AAA'

--Class A 12/1/09 at 'AAA'

--Class A 12/1/10 at 'AAA'

--Class A 12/1/11 at 'AAA'

--Class A 12/1/12 at 'AAA'

--Class A 12/1/13 at 'AAA'

--Class A 12/1/14 at 'AAA'

--Class B at 'AAA'

--Class C 12/1/07 at 'AAA'

--Class C 12/1/08 at 'AAA'

--Class C 12/1/09 at 'AAA'

--Class C 12/1/10 at 'AAA'

--Class C 12/1/11 at 'AAA'

--Class C 12/1/12 at 'AAA'

--Class C 12/1/13 at 'AAA'

--Class C 12/1/14 at 'AAA'

--Class C 12/1/15 at 'AAA'

--Class C 12/1/16 at 'AAA'

Massachusetts Educational Financing Authority- 1997 General Resolution (MA), 2000

--Class A 12/1/07 at 'AAA'

--Class A 12/1/08 at 'AAA'

--Class A 12/1/09 at 'AAA'

--Class A 12/1/10 at 'AAA'

--Class A 12/1/11 at 'AAA'

--Class A 12/1/12 at 'AAA'

--Class A 12/1/13 at 'AAA'

--Class A 12/1/14 at 'AAA'

--Class A 12/1/15 at 'AAA'

--Class A 12/1/16 at 'AAA'

--Class A 12/1/17 at 'AAA'

--Class A 12/1/18 at 'AAA'