TEXT-Fitch affirms N.C. Education Assistance Authority 2011-1
Jan 2 - Fitch Ratings has affirmed the senior student loan notes issued by State of North Carolina State Education Assistance Authority 2011-1 at 'AAAsf.' The Rating Outlooks, which are tied to the sovereign rating of the U.S. government, remain Negative. Fitch affirms the ratings on the notes based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the notes consists of overcollateralization and projected minimum excess spread. Fitch used its 'Global Structured Finance Rating Criteria' and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings. Fitch has affirmed the following ratings: State of North Carolina State Education Assistance Authority 2011-1: --A-1 at 'AAAsf'; Outlook Negative; --A-2 at 'AAAsf'; Outlook Negative; --A-3 at 'AAAsf'; Outlook Negative. 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' (June 6, 2012); --'Rating U.S. Federal Family Education Loan Program Student Loan ABS' (April 3, 2012). Applicable Criteria and Related Research: Global Structured Finance Rating Criteria Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria
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