Fitch Ratings has assigned preliminary ratings to the student loan ABS issued by Academic Loan Funding Trust (ALFT) 2012-1.

The $539.1 million, class A tranche will be rated a Fitch 'AAA'. The trust's collateral comprises FFELP loans.

Day-to-day servicing will be provided by Pennsylvania Higher Education Assistance Agency, Great Lakes Educational Loan Services, and Xerox Education Services , the rating agency stated in a presale report on the transaction.    

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