Fitch: Citi, Discover, Sallie Mae unchanged

Fitch Ratings said it does not expect any rating action on Citigroup Inc., Discover Financial Services Inc. or SLM Corp. as a result of the breakup of Student Loan Corp., which is 80% owned by Citigroup.

According to the agency, Discover will acquire the Student Loan legal entity, which includes the private lending origination platform, servicing capabilities, systems and management team, and approximately $4.2 billion of private student loan assets; and Sallie Mae will acquire the assets and servicing rights of Student Loan's securitized FFELP portfolio, which amounts to approximately $28 billion.

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