Fitch Rates SLM Student Loan Trust 2013-1

NEW YORK--()--Fitch Ratings has assigned the following ratings and Rating Outlooks to the SLM Student Loan Trust 2013-1, student loan-backed notes:

--$280,000,000 floating rate class A-1 notes, 'AAAsf'; Outlook Negative;

--$396,000,000 floating rate class A-2 notes, 'AAAsf'; Outlook Negative;

--$538,000,000 floating rate class A-3 notes, 'AAAsf'; Outlook Negative ;

--$35,000,000 floating rate class B notes, 'A+sf'; Outlook Stable.

Fitch's stress analysis is discussed in the presale titled 'SLM Student Loan Trust 2013-1', dated Feb. 4, 2013.

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:

--'SLM Student Loan Trust 2013-1' (February 4, 2013);

--'Global Structured Finance Rating Criteria' (June 6, 2012);

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

SLM Student Loan Trust 2013-1 (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=700255

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Contacts

Fitch Ratings
Primary Analyst
Charlene M. Davis
Associate Director
+1-212-908-0213
Fitch Ratings, Inc.
One State Street Plaza
New York, NY10004
or
Secondary Analyst
Emily Lee
Director
+1-212-908-0667
or
Committee Chairperson
Steven Stubbs
Senior Director
+1-212-908-0676
or
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

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Contacts

Fitch Ratings
Primary Analyst
Charlene M. Davis
Associate Director
+1-212-908-0213
Fitch Ratings, Inc.
One State Street Plaza
New York, NY10004
or
Secondary Analyst
Emily Lee
Director
+1-212-908-0667
or
Committee Chairperson
Steven Stubbs
Senior Director
+1-212-908-0676
or
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com