OREANDA-NEWS. Fitch Ratings affirms the senior, subordinate, and junior subordinate classes of National Collegiate Trust 2007-A at 'AAAsf', 'AAsf', and 'Asf' respectively. The Rating Outlook for the notes remains Stable. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS
Adequate Collateral Quality: The trust is collateralized by approximately $54.5 million of private student loans originated by Bank of America under First Marblehead Corp's GATE Program. The projected remaining defaults are expected to range between 12%-16%. Fitch applied a recovery rate of 30%, which was determined to be appropriate based on data previously provided by the issuer and included credit to the guarantee provided by Bank of America on loans originated pursuant to the GATE Program.

Sufficient Credit Enhancement: Credit enhancement (CE) is provided by overcollateralization (OC, the excess of the trust's asset balance over the bond balance) and excess spread. The parity ratio (total assets to total liabilities) for National Collegiate Trust 2007-A is 104.00% as of the September distribution report, the trust's release level. Current senior and subordinate parity is 163.66% and 115.70% respectively.

Adequate Liquidity Support:
Liquidity support is provided by a General Reserve Account sized at $1,000,097.

Satisfactory Servicing Capabilities:
Day-to-day servicing is provided by Pennsylvania Higher Education Assistance Agency. Fitch believes the servicing operations are acceptable at this time.

RATING SENSITIVITIES
As Fitch's base case default proxy is derived primarily from historical collateral performance, actual performance may differ from the expected performance, resulting in higher loss levels than the base case. This will result in a decline in CE and remaining loss coverage levels available to the bonds and may make certain bond ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage. Fitch will continue to monitor the performance of the trust.

DUE DILIGENCE USAGE
No third party due diligence was provided or reviewed in relation to this rating action.

Fitch affirms the following ratings:

National Collegiate Trust 2007-A:
--Class A at 'AAAsf'; Outlook Stable;
--Class B at 'AAsf'; Outlook Stable;
--Class C at 'Asf'; Outlook Stable.