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Fitch Affirms SLC Student Loan Trust 2009-3

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed the student loan note issued by SLC Student Loan Trust 2009-3 at 'AAAsf.' The Rating Outlook, which is tied to the sovereign rating of the U.S. government, remains Negative.

Fitch affirms the rating on the note based on the sufficient level of credit enhancement to cover the applicable risk factor stresses. Credit enhancement for the note consists of overcollateralization and projected minimum excess spread.

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 rating:

SLC Student Loan Trust 2009-3:

--A at 'AAAsf'; Outlook Negative.

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
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Harry Kohl, +1-212-908-0837
Analyst
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Source: Fitch Ratings