Fitch Comments on Request for Rating Agency Confirmation for Wachovia Student Loan Trust 2006-1
In addition, Nelnet Loan Acquisition Corporation has acquired Wachovia Education Loan Funding LLC as the Depositor and Excess Distribution Certificate Holder of WSLT 2006-1 pursuant to the Purchase Agreement. Consistent with its statements on policies regarding rating confirmations in structured finance transactions (Jan. 13, 2009) and student loan transactions (May 8, 2009), Fitch is treating this request as a notification.
Based on the information provided, Fitch has determined that the execution of the Agreements as well as the transfer and assignment of the membership interest in Wachovia Education Loan Funding LLC as the Depositor and Excess Distribution Certificate Holder to Nelnet Loan Acquisition Corporation will not result in a withdrawal or downgrade of any of the ratings assigned by Fitch to notes issued from Wachovia Student Loan Trust 2006-1. In addition, Fitch deems Nelnet has an acceptable Master Servicer and Administrator of student loans.
This determination only addresses the effect of the Agreements on the currents ratings assigned by Fitch to the securities listed below. This determination does not address whether the execution of the Agreements is permitted by the terms of the documents. This determination does not address whether the execution of the Agreements are in the best interests of, or prejudicial to, some or all of the holders of the notes issued from Wachovia Student Loan Trust 2006-1.
Fitch's ratings on the above-mentioned trust remain unchanged and are listed below:
Wachovia Student Loan Trust 2006-1
--Class A-5 'AAAsf'; Outlook Stable;
--Class A-6 'AAAsf'; Outlook Stable;
--Class B 'Asf'; Outlook Stable.
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