Fitch Affirms GCO SLIMS Trust-I Note

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NEW YORK--(BUSINESS WIRE)-- Fitch Ratings affirms the student loan asset-backed note issued by GCO Student Loan Interest Margin Securities Trust-I (GCO SLIMS Trust-1) at 'A'. Fitch's 'Global Structured Finance Rating Criteria' was used to review the ratings and the affirmation is based on the performance of the trust in-line with expectations. The Rating Outlook is Stable.

The GCO Education Loan Funding Trust-I (GCO ELF Trust-I), the underlying trust, has been consistently producing positive excess spread and the rate of repayment on the GCO SLIMS Trust-I has been in-line with expectations. The GCO SLIMS Trust-I is able to withstand an 'A' basis stress scenario on the underlying trust, under which no excess spread is generated for six months and funds in the reserve account are used to make interest payments.

Fitch affirms GCO Student Loan Interest Margin Securities Trust-I (GCO SLIMS Trust-1) student loan asset-backed note as follows:

--GCO SLIMS Trust-1 at 'A'; 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' dated Aug. 4, 2011;

--'U.S.FFELP Student Loan ABS Surveillance Criteria' dated May 10, 2011;

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS' dated April 7, 2011.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

U.S. FFELP Student Loan ABS Surveillance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=597566

Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=616766

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Fitch RatingsPrimary AnalystVictoria Ohorodnyk, +1-212-908-0866AnalystFitch, Inc.One State Street PlazaNew York, NY 10004orCommittee ChairpersonCynthia Ullrich, +1-212-908-0609Senior DirectororMedia Relations:Sandro Scenga, +1-212-908-0278Email: [email protected]

Source: Fitch Ratings

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