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Fitch publishes BB rating on SLM, Sallie Mae
Fitch Ratings said it published a long-term issuer default rating of BB to SLM Corp. and Sallie Mae Bank.
The outlook is positive.
SLM's ratings reflect its market leading position in the U.S. private education loan industry, predominately prime loan portfolio and high co-signor rates, Fitch said.
Rating constraints include SLM's monoline business model, the duration mismatch between demand deposits and longer-term student loans and the sensitivity and stability of the deposit base to rising interest rates, the agency said.
The positive outlook reflects the expectation for stable credit performance in the face of increased portfolio seasoning, Fitch said.
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