Fitch Affirms Senior Note of North Texas Higher Education Authority, Inc. 2011-1 Indenture of Trust

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings affirms the senior student loan note at 'AAAsf' issued by North Texas Higher Education Authority, Inc. 2011-1 Indenture of Trust. The Rating Outlook, which is tied to the sovereign rating of the U.S. government, remains Negative. 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 rating on the senior note is affirmed based on the sufficient level of credit to cover the applicable risk factor stresses. Credit enhancement for the senior note consists of overcollateralization and projected minimum excess spread.

Fitch has taken the following rating actions:

North Texas Higher Education Authority, Inc. 2011-1 Indenture of Trust:

--Series 2011-1 affirmed at 'AAAsf'; Outlook Negative.

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;

--'U.S. FFELP Student Loan ABS Surveillance Criteria' dated May 10, 2011;

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

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

U.S. FFELP Student Loan ABS Surveillance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=597566

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=616766

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