Fitch Takes Various Rating Actions on KeyCorp Student Loan Trust 2004-A

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the senior student loan bond and downgraded the subordinate bond issued by KeyCorp Student Loan Trust 2004-A and assigned Outlooks as outlined below:

--Class A-2 affirmed at 'AAA/LS1'; Outlook Stable;

--Class B downgraded to 'BBB/LS3' from 'AAA/LS3'; Outlook Stable.

Class A-1 notes are paid in full.

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

Fitch used its 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') 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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