OREANDA-NEWS. Fitch Ratings upgrades the ratings of the class B notes of the SLM Private Credit Student Loan Trust 2007-A to 'A-sf'. The class A and C notes are affirmed at 'AA-sf' and 'BB+sf', respectively. The Rating Outlook remains Stable for all of the notes. A detailed list of rating actions follows at the end of this press release.

KEY RATING DRIVERS
Collateral Quality: The trust is collateralized by approximately $1.25 billion of private student loans. The loans were originated by Navient Corp (fka SLM Corp) under the Signature Education Loan Program, LAWLOANS program, MBA Loans program, and MEDLOANS program. The projected remaining defaults are expected to range between 10%-15%. A recovery rate of 11% was applied, which was determined to be appropriate based on data provided by the issuer.

Credit Enhancement: Transaction credit enhancement is sufficient to provide loss coverage for the Class A, B, and C notes at each respective rating category. CE is provided by a combination of overcollateralization (the excess of the trust's asset balance over the bond balance), excess spread, and subordination. The reported total parity ratio as of the most recent distribution is 104.13%.

Adequate Liquidity Support: Liquidity support is provided by a reserve account sized at approximately $5 million.
Servicing Capabilities: Day-to-day servicing is provided by Navient Solutions Inc., which has demonstrated satisfactoryservicing capabilities.

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 has taken the following rating actions:

SLM Private Credit Student Loan Trust 2007-A:
--Class A-2 affirmed at 'AA-sf'; outlook Stable;
--Class A-3 affirmed at 'AA-sf'; outlook Stable;
--Class A-4 affirmed at 'AA-sf'; outlook Stable;
--Class B upgraded to 'A-sf' from 'BBB+sf'; outlook Stable;
--Class C-1 affirmed at 'BB+sf'; Outlook Stable.
--Class C-2 affirmed at 'BB+sf'; Outlook Stable.