OREANDA-NEWS. January 19, 2016. Fitch Ratings has affirmed the senior and subordinate facilities from Currus V Limited. The Rating Outlook is Stable.

KEY RATING DRIVERS
The ratings reflect the current rating of the underlying collateral, the class A-6 notes and class B notes issued by SLM Student Loan Trust 2007-1. As of Dec. 18, 2015, the class A-6 notes are rated 'AAAsf' Rating Watch Negative and the class B notes are rated 'Asf', Outlook Stable.

RATING SENSITIVITIES
The ratings assigned to Currus V Limited are linked to and move with the rating of the B note since all three facilities have exposure to the subordinated note. A downgrade of the B notes would likely result in a downgrade of the Currus V Limited notes.

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

Fitch has affirmed the following ratings for Currus V Limited:

--Senior facility at 'Asf'; Outlook Stable;
--Subordinated B facility at 'Asf'; Outlook Stable;
--Subordinated C facility at 'Asf'; Outlook Stable.