Fitch Ratings has upgraded the senior and subordinate facilities from Currus I, II, III, and IV Limited. The Rating Outlook is Stable.
KEY RATING DRIVERS
The ratings reflect the current rating of the underlying collateral, the class A-6 notes and class B notes issued by SLM Student Loan Trust 2006-10. As of Dec. 16, 2014, the class A-6 notes are rated 'AAAsf' Outlook Stable and the SLM class B notes are rated 'Asf' Outlook Stable. The ratings assigned to Currus I, II, III, and IV Limited are linked to and move with the rating of the B note since all three facilities have exposure to the subordinated note.
RATING SENSITIVITIIES
The ratings assigned to the Currus I-IV transactions are linked to and move with the ratings of the underlying ABS notes.
Fitch affirms the ratings of Currus I-IV Limited as follows:
Currus I-IV Limited:
--Senior facility at 'Asf'; Outlook Stable;
--Subordinated B facility at 'Asf'; Outlook Stable;
--Subordinated C facility at 'Asf'; Outlook Stable.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Global Structured Finance Rating Criteria', dated Aug. 4, 2014;
--'Fitch Affirms SLM Student Loan Trust 2006-10', dated Dec. 18, 2014.
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=754389
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=974895
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