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Fitch to Rate State Board of Regents of the State of Utah Series 2012-1; Presale Issued

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings expects to rate State Board of Regents of the State of Utah Series 2012-1 (UTAH 2012-1) as follows:

--$518,700,000 2012-1A student loan asset-backed notes, 'AAAsf'(EXP)'; Outlook Negative

Fitch's stress analysis is discussed in the presale titled 'UTAH 2012-1' dated Oct. 1, 2012.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (June 6, 2012);

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria' (April 4, 2012).

Applicable Criteria and Related Research: State Board of Regents of the State of Utah, Series 2012-1

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=690070

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675202

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Fitch Ratings
Primary Analyst
Nicole Edwards, +1-212-908-9114
Director
Fitch, Inc.
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or
Secondary Analyst
Kinga Gorniak, +1-212-908-0792
Associate Director
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Cynthia Ullrich, +1-212-908-0609
Senior Director
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Media Relations
Sandro Scenga, +1-212-908-0278
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Source: Fitch Ratings