Fitch Affirms Senior and Subordinate Bond of SLM Student Loan Trust 2003-3

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the senior and subordinate student loan bonds at 'AAA' issued by SLM Student Loan Trust 2003-3 and assigned Stable Outlooks to all bonds as outlined below:

SLM Student Loan Trust 2003-3

--Class A-4 at 'AAA/LS1'; Outlook Stable;

--Class B at 'AAA/LS3'; Outlook Stable.

Additionally, Fitch has removed the class B subordinated bond from Rating Watch Negative.

Fitch's Global Structured Finance Rating Criteria and FFELP student loan ABS rating criteria, as well as the refined basis risk criteria outlined in Fitch's June 29 press release ('Fitch to Begin Review of U.S. FFELP SLABS Applying Updated Criteria') were used to review the ratings.

Additional information is available at 'www.fitchratings.com'.

Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=469406

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