Fitch Affirms Senior Note of SLC Student Loan Trust 2009-1

NEW YORK--()--Fitch Ratings affirms the senior student loan note at 'AAAsf' issued by SLC Student Loan Trust 2009-1. The Rating Outlook on the note, which is tied to the sovereign rating of the U.S. government, remains Negative. Fitch used its 'Global Structured Finance Rating Criteria', and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the rating.

The rating on the senior note is affirmed based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the senior note consists of overcollateralization and projected minimum excess spread.

Fitch has taken the following rating action:

SLC Student Loan Trust 2009-1:

--Class A-2 affirmed 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' dated June 6, 2012;

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria' dated April 3, 2012.

Applicable Criteria and Related Research:

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675202

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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Contacts

Fitch Ratings
Primary Analyst:
Victoria Ohorodnyk, +1-212-908-0866
Analyst
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Steven Stubbs, +1-212-908-0676
Senior Director
or
Sandro Scenga, +1-212-908-0278
Media Relations, New York
sandro.scenga@fitchratings.com

Sharing

Contacts

Fitch Ratings
Primary Analyst:
Victoria Ohorodnyk, +1-212-908-0866
Analyst
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Steven Stubbs, +1-212-908-0676
Senior Director
or
Sandro Scenga, +1-212-908-0278
Media Relations, New York
sandro.scenga@fitchratings.com