Student Loan | Fitch Affirms Senior And Subordinate Notes Of SLM ...

2012/02/29 ? 06:04:29

NEW YORK?(BUSINESS WIRE)?

Fitch Ratings affirms the senior notes at ?AAAsf? and subordinate student loan note at ?BBBsf? issued by SLM Student Loan Trust series 2006-10. The Rating Outlook remains Negative for the senior classes and Stable for subordinate class. Fitch used its ?Global Structured Finance Rating Criteria?, and ?U.S. FFELP Student Loan ABS Surveillance Criteria?, as well as ?Rating U.S. Federal Family Education Loan Program Student Loan ABS? to review the ratings.

The ratings on the senior and subordinate notes are affirmed based on the sufficient level of credit to cover the applicable risk factor stresses. Credit enhancement for the senior and subordinate notes consists of overcollateralization and projected minimum excess spread, while the senior notes also benefit from subordination provided by the class B note. Fitch has taken the following rating actions:

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SLM Student Loan Trust, Series 2006-10:

?Class A-3 affirmed at ?AAAsf?; Outlook Negative;

?Class A-4 affirmed at ?AAAsf?; Outlook Negative;

?Class A-5A affirmed at ?AAAsf?; Outlook Negative;

?Class A-5B affirmed at ?AAAsf?; Outlook Negative;

?Class 6 affirmed at ?AAAsf?; Outlook Negative;

?Class B affirmed at ?BBBsf?; Outlook 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:

??Global Structured Finance Rating Criteria? dated Aug. 4, 2011;

??Rating U.S. Federal Family Education Loan Program Student Loan ABS? dated April 7, 2011;

??U.S. FFELP Student Loan ABS Surveillance Criteria? dated May 10, 2011.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

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

U.S. FFELP Student Loan ABS Surveillance Criteria

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: . 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.

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