OREANDA-NEWS. January 19, 2016. Fitch Ratings has affirmed the senior and subordinate facilities from Currus I, II, III, and IV 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 2006-10. As of Dec. 18, 2015, the class A-6 notes are rated 'AAAsf' Rating Watch Negative and the SLM class B notes are rated 'Asf', Outlook Stable.

RATING SENSITIVITIES
The ratings assigned to Currus I, II, III, and IV 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 I, II, III and IV 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 I-IV Limited:
--Senior facility at 'Asf'; Outlook Stable;
--Subordinated B facility at 'Asf'; Outlook Stable;
--Subordinated C facility at 'Asf'; Outlook Stable.