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Fitch Affirms Senior, Subordinate & Jr. Subordinate Notes of Access Group, Inc. Series 2007-1

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed the senior and subordinate student loan notes issued by Access Group, Inc. Series 2007-1 at 'AAAsf', and affirmed the Jr. subordinate notes at 'Asf'. The Rating Outlook for the senior and subordinate notes, which is tied to the sovereign rating of the U.S. government, remains Negative. The Rating Outlook for the Jr. subordinate notes remains Stable.

Fitch affirms the ratings on the notes based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the senior, subordinate, and Jr. subordinate notes consists of any combination of overcollateralization and projected minimum excess spread, while the senior and subordinate notes also benefit from subordination provided by the class C notes.

Fitch used its 'Global Structured Finance Rating Criteria' and 'Rating U.S. Federal Family Education Loan Program Student Loan ABS' to review the ratings.

Fitch has affirmed the following ratings:

Access Group, Inc. Series 2007-1:

--Class A-2 at 'AAAsf'; Outlook Negative;

--Class A-3 at 'AAAsf'; Outlook Negative;

--Class A-4 at 'AAAsf'; Outlook Negative;

--Class A-5 at 'AAAsf'; Outlook Negative;

--Class B at 'AAAsf'; Outlook Negative;

--Class C at 'Asf'; Outlook Stable.

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' (April 3, 2012).

Applicable Criteria and Related Research:

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
Sandro Scenga, +1-212-908-0278
Media Relations, New York
sandro.scenga@fitchratings.com
or
Primary Analyst:
Harry Kohl, +1-212-908-0837
Analyst
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Tracy Wan, +1-212-908-9171
Senior Director

Source: Fitch Ratings