Fitch Affirms LoanStar Asset Partners II, L.P., 1995 Master Trust Notes; Revises Outlook to Positive

NEW YORK--()--Fitch Ratings affirms the long- and short-term ratings of LoanStar Asset Partners II, L.P., 1995 Master Trust (fka Greater East and Greater Texas Student Loan Corp) at 'A+/F1+'. The Rating Outlook on the long-term rating is revised to Positive from Stable.

KEY RATING DRIVERS

The rating of each series of 1995 Master Trust notes is based on the support provided by a distinct direct-pay letter of credit (LOC) issued by State Street Bank and Trust Company (rated 'A+/F1+' with a Positive Outlook by Fitch). State Street is obligated to make payments of interest and principal on the bonds upon maturity, acceleration, and redemption, as well as the purchase price for tendered bonds. The ratings assigned to a series of 1995 Master Trust notes will expire upon the earliest to occur of: May 1, 2014, the stated expiration date of each letter of credit, or as such date may be extended; any prior termination of a related letter of credit; and defeasance of such series of 1995 Master Trust notes.

RATING SENSITIVITIES

The rating of the bonds is exclusively tied to the long- and short-term ratings that Fitch maintains on the bank providing the LOC and will reflect all changes to the bank's ratings.

Fitch has taken the following rating actions:

LoanStar Asset Partners II, L.P., 1995 Master Trust (fka Greater East and Greater Texas Student Loan Corp):

--Series 1995 B' affirmed at 'A+sf/F1+sf'; Outlook revised to Positive from Stable;

--Series 1995 B affirmed at 'A+sf/F1+sf'; Outlook revised to Positive from Stable;

--Series 1998A affirmed at 'A+sf/F1+sf'; Outlook revised to Positive from Stable;

--Series 2000A affirmed at 'A+sf/F1+sf'; Outlook revised to Positive from 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:

--'U.S. Municipal Structured Finance Criteria', Feb. 27, 2013;

--'Rating Guidelines for Letter of Credit', July 20, 2012.

Applicable Criteria and Related Research

U.S. Municipal Structured Finance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=701570

Rating Guidelines for Letter of Credit-Supported Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=681737

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Contacts

Fitch Ratings
Primary Analyst
Harry Kohl, +1-212-908-0837
Analyst
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Tracy Wan, +1-212-908-9171
Senior Director
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com

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Contacts

Fitch Ratings
Primary Analyst
Harry Kohl, +1-212-908-0837
Analyst
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Tracy Wan, +1-212-908-9171
Senior Director
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com