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SLFC, INC. NOTES 'AAA', STUDENT LOAN FNDG. BONDS 'A/BBB' BY FITCH -- FITCH FINANCIAL WIRE --

SLFC, INC. NOTES 'AAA', STUDENT LOAN FNDG. BONDS 'A/BBB' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 18 /PRNewswire/ -- SLFC, Inc.'s $269 million Student Loan Revenue Notes, series 1992A are rated 'AAA' by Fitch. The Student Loan Funding Corp.'s (Corp.) $30.1 million Student Loan Revenue Refunding Bonds, series 1992A are rated 'A' and the $7 million Student Loan Subordinated Revenue Refunding Bonds, series 1992B are rated 'BBB'.
 The 'AAA' rating of the notes is based on the high quality of the law student loan portfolio, the credit enhancement provided by the subordination of Corp.'s bonds, Series 1992A and 1992B, excess spread, the reserve fund and the excellent servicing provided by the Pennsylvania Higher Education Assistance Agency (PHEAA) and the Education Loan Servicing Inc.
 The 'A' rating on Corp.'s series 1992A bonds is based on the quality of the student loan portfolio, excess cash flow, a reserve fund, the credit enhancement provided by the subordination of the Series 1992B bonds, and the quality of the guarantee agencies.
 The 'BBB' rating on Corp.'s series 1992B bonds is based on the quality of the student loan portfolio, the reserve fund and the quality of the guarantee agencies. For the purposes of the 'BBB' rating, the stress scenario assumes no recycling of the loan proceeds. Under this scenario, funds derived from the existing loan portfolio are sufficient to pay principal and interest on the bonds.
 The proceeds of the taxable student loan revenue notes will be used to purchase law student loans from Ameritrust Company National Association backed by federal and private guarantors. Federal loans include Stafford loans and Supplemental Loans for Students. The private loans include Law Access Loans and Bar Examination Loans. The amount of private loans equals 40 percent of the portfolio and may not exceed 42 percent. The guarantors for the federal loans are PHEAA and Massachusetts Higher Education Assistance Corp. (MHEAC). PHEAA and MHEAC are eligible Dept. of Education reimbursement. The private guarantor is The Education Resources Institute, Inc. (TERI).
 The proceeds of the bonds will be used to refund a portion of Corp.'s outstanding Student Loan Revenue Bonds, Series 1990A and to purchase post-secondary student loans originated under the federal loan program. These loans are primarily Stafford Student loans guaranteed by Ohio Student Loan Commission and Great Lakes Higher Education Corp. Both guaranty agencies are eligible for Dept. of Education reimbursement.
 -0- 8/18/92
 /CONTACT; Mary E. Griffin, 212-908-0537, or Gracen Fraser, 212-908-0520, both of Fitch/ CO: SLFC, Inc. ST: IN: SU: RTG


DC -- NY050 -- 0998 08/18/92 13:26 EDT
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Date:Aug 18, 1992
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