Fitch Affirms Senior and Subordinate Notes of KeyCorp Student Loan Trust 2006-A (Group I)
March 15 2012 - 6:48PM
Business Wire
Fitch Ratings affirms both the senior notes at 'AAAsf', and
subordinate student loan note at 'BBBsf' issued by KeyCorp Student
Loan Trust 2006-A (Group I). The Rating Outlook on the senior
notes, which is tied to the sovereign rating of the U.S.
government, remains Negative, while the Rating Outlook on the
subordinate note remains Stable.
Fitch used its 'Global Structured Finance Rating Criteria', and
'U.S. FFELP Student Loan ABS Surveillance Criteria', as well as
'Rating U.S. Federal Family Education Loan Program Student Loan
ABS' to review the ratings.
The ratings on the senior and subordinate notes are affirmed
based on the sufficient level of credit enhancement to cover the
applicable risk factor stresses. Credit enhancement for the senior
and subordinate notes consists of overcollateralization and
projected minimum excess spread, while the senior notes also
benefit from subordination provided by the class B note.
Fitch has taken the following rating actions:
KeyCorp Student Loan Trust 2006-A (Group I):
--Class A-2 affirmed at 'AAAsf'; Outlook Negative;
--Class B affirmed at 'BBBsf'; 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 Surveillance 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:
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
Rating U.S. Federal Family Education Loan Program Student Loan
ABS Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=616766
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