Fitch Affirms Nelnet Student Loan Trust 2002-2 Notes
by Business Wire
Fitch Ratings has affirmed the senior and subordinate student loan notes issued by Nelnet Student Loan Trust 2002-2 at 'AAAsf'. The Rating Outlooks, which are tied to the sovereign rating of the U.S. government, remain Negative.
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 and subordinate notes consists of overcollateralization and projected minimum excess spread, while the senior notes also benefit from subordination provided by the class B 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:
Nelnet Student Loan Trust 2002-2:
--Class A-4L at 'AAAsf'; Outlook Negative;
--Class A-4CP at 'AAAsf'; Outlook Negative;
--Class B at 'AAAsf'; Outlook Negative.
Additional information is available at 'www.fitchratings.com'.