2009-10-30 20:42:01 -
Fitch Ratings affirms and assigns Stable Rating Outlooks to the senior student loan notes of the National Education Loan Network (Nelnet) series 2007-2 notes. The trust parity ratios have been increasing since closing, and the parity for the senior notes are at 105% as of the Aug.
31, 2009 collection period. A complete list of rating actions follows at the end of this press release.
Fitch's Global Structured Finance Rating Criteria were used to review the ratings, and the affirmations are based on the performance of the trust in-line with the expectations outlined therein. The existence of auction rate securities has not had a significant impact on the trust performance.
Assignment of the Stable Outlooks reflects Fitch's expectation that, with the
significant buildup of parity for the senior notes, the ratings are expected to remain stable for the next two years. The subordinate student loan notes will be reviewed separately upon the completion of the updated basis risk analysis.
The collateral supporting Nelnet Student Loan Trust series 2007-2 notes consists entirely of federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP). FFELP loans are guaranteed at least 97% of principal and accrued interest, depending on the loan origination date. The loans are serviced solely by Nelnet, Inc., which does not carry a Fitch Seller/Servicer Rating.
Fitch affirms and assigns Outlooks to the following senior classes of Nelnet Student Loan Trust series 2007-2 notes.
--Class A-2L notes at 'AAA'; Outlook Stable;
--Class A-3L notes at 'AAA'; Outlook Stable;
--Class A-4 AR-1 notes at 'AAA'; Outlook Stable;
--Class A-4 AR-2 notes at 'AAA'; Outlook Stable.
The following applicable criteria report is available on Fitch's web site at ' www.fitchratings.com :
cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. '.
'Global Structured Finance Rating Criteria', dated Sept. 30, 2009.
Additional information is available at ' www.fitchratings.com :
cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. '.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:
FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS :
cts.businesswire.com/ct/CT?id=smartlink&url=HTTP%3A%2F%2FFIT .. .
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM :
cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2FWWW .. '.
PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
Fitch RatingsJeff Prackup, +1-212-908-0839Aoto Kenmochi,
+1-212-908-0867 (New York)Media Relations:Sandro Scenga,
+1-212-908-0278 (New York)
sandro.scenga@fitchratings.com : mailto:sandro.scenga@fitchratings.com
