OREANDA-NEWS. January 26, 2016. Based on information provided, Fitch Ratings expects Access Group Student Loan Asset Backed series 2004-2 class A-2 will be paid-in-full (PIF) on its final maturity date Monday, Jan. 25, 2016. The 2004-2 class A-2 note is currently rated 'B-sf', Rating Watch Negative. The note will be marked PIF once Fitch receives final confirmation from Access Group that a full and final payment has made.

As of Oct. 26, 2015, the outstanding principal balance for the class A-2 note was \\$72,974,112.08. The trust benefits from a capitalized interest fund with a balance of \\$1,151,208.00 that can be used to pay of any maturing notes.

Since June 2015, Fitch has placed a number of U.S. FFELP ABS Tranches on Rating Watch Negative for maturity risk concerns. The rating actions were based on analysis conducted by Fitch that identified trusts with tranches that have heighted risk of missing legal maturity dates based on the principal repayment date. The Access Group, Inc. 2004-2 Indenture of Trust was a part of the identified trusts resulting in all the notes being placed on Rating Watch Negative. The class A-3, A-4, A-5 and B notes remain on Rating Watch Negative.

Fitch released an exposure draft of its proposed FFELP Student Loan Criteria in November 2015 and is in the process of finalizing the criteria.