Fitch Ratings affirms the student loan notes issued by South Carolina Student Loan Corp. Series 2010-1 at 'AAA'. The Rating Outlook remains Stable.
Fitch used its 'Global Structured Finance Rating Criteria,' 'U.S. FFELP Student Loan ABS Rating Criteria', and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings.
The rating on the notes are affirmed based on the sufficient level of credit enhancement consisting of overcollateralization and projected minimum excess spread to cover the applicable risk factor stresses.
Fitch has taken the following rating actions:
South Carolina Student Loan Corp. Series 2010-1 Notes
--Class A-1 affirmed at 'AAA'; Outlook Stable;
--Class A-2 affirmed at 'AAA'; Outlook Stable;
--Class A-3 affirmed at 'AAA'; 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' dated Aug. 4, 2011;
--'U.S. FFELP Student Loan ABS Rating Criteria' dated May 10, 2011;
--'Rating U.S. Federal Family Education Loan Program Student Loan ABS' dated April 7, 2011.
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=616766
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569
U.S. FFELP Student Loan ABS Surveillance Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=597566
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