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Fitch Upgrades Currus I-IV Limited Ratings

February 3, 2014

Fitch Ratings has upgraded the senior and subordinate facilities from Currus I, II, III, and IV Limited . The Rating Outlook is Stable. KEY RATING DRIVERS: The upgrade and Stable Outlooks reflect the current rating of the underlying collateral, the class A-6 notes and class B notes issued by SLM Student Loan Trust 2006-10. As of Jan. 16 , the class A-6 notes are rated 'AAAsf' Rating Watch Negative and the SLM class B notes are rated 'Asf' with a Stable Outlook. The ratings assigned to Currus I, II, III, and IV Limited are linked to and move with the rating of the B note since all three facilities have exposure to the subordinated note. Fitch upgrades the ratings of Currus I-IV Limited and maintains Rating Outlooks as follows: Currus I-IV Limited : --Senior facility to 'Asf' from 'BBBsf'; Outlook Stable; --Subordinated B facility to 'Asf' from 'BBBsf'; Outlook Stable; --Subordinated C facility to 'Asf' from 'BBBsf'; Outlook Stable. Additional information is available at 'fitchratings.com ' Applicable Criteria and Related Research : --'Global Structured Finance Rating Criteria', dated May 24, 2013 ; --'Fitch Maintains Negative Watch on SLM Student Loan Trust 2005- 9 & 2006-10 Sr. Notes; Upgrades Subs', dated Jan. 16 . Applicable Criteria and Related Research : Global Structured Finance Rating Criteria http://fitchratings.com/creditdesk/reports/ report_frame.cfm?rpt_id=708661 Additional Disclosure Solicitation Status http://fitchratings.com/gws/en/disclosure/ solicitation?pr_id=818136 ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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