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NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings expects to rate State Board of Regents of the State of Utah Series 2012-1 (UTAH 2012-1) as follows:

--$518,700,000 2012-1A student loan asset-backed notes, 'AAAsf'(EXP)'; Outlook Negative

Fitch's stress analysis is discussed in the presale titled 'UTAH 2012-1' dated Oct. 1, 2012.

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' (June 6, 2012);

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria' (April 4, 2012).

Applicable Criteria and Related Research: State Board of Regents of the State of Utah, Series 2012-1

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=690070 ]

Global Structured Finance Rating Criteria

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923 ]

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

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675202 ]

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