News Column

Fitch Upgrades LoanStar Asset Partners II, L.P., 1995 Master Trust Notes; Outlook Revised to Stable

August 29, 2014



NEW YORK--(BUSINESS WIRE)-- Fitch Ratings upgrades the long-term rating of LoanStar Asset Partners II, L.P., 1995 Master Trust Notes to 'AA-sf' from 'A+sf', and affirms the short-term rating at 'F1+sf'. The Rating Outlook for the long-term rating has been revised to Stable from Positive.

KEY RATING DRIVERS

The rating for 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 'AA-/F1+' with a Stable 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: November 30, 2015, 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 upgraded the following ratings:

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

--Series 1995 B' to 'AA-sf/F1+sf' from 'A+sf/F1+sf';

--Series 1995 B to 'AA-sf/F1+sf' from 'A+sf/F1+sf';

--Series 1998A to 'AA-sf/F1+sf' from 'A+sf/F1+sf';

--Series 2000A to 'AA-sf/F1+sf' from 'A+sf/F1+sf'.

The Outlook has been revised to Stable from Positive

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (Aug. 4, 2014);

--'Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper' (June 2, 2014).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=754389

Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749431

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=861414

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. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Primary Analyst

Harry Kohl, +1-212-908-0837

Associate Director

Fitch Ratings, Inc.

33 Whitehall Street

New York, NY 10004

or

Committee Chairperson

Tracy Wan, +1-212-908-9171

Senior Director

or

Media Relations

Alyssa Castelli, New York, +1-212-908-0540

alyssa.castelli@fitchratings.com

Source: Fitch Ratings


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Business Wire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters