Fitch Ratings was the beneficiary of a recent dispute between student lender Alaska Student Loan Corp. and Moody's Investors Service, in which the issuer claims it was dissatisfied with the customer service it received from the ABS market's leading rating agency. For its part, Moody's claims that it was asked to remove its rating from the 2002 and 2003 series of tax-free student loan ABS after expressing concern over potentially eroding credit protection as the trust issues additional transactions.

On May 17, Moody's announced that it was confirming and simultaneously withdrawing its ratings on the series 2002 indenture bonds of tax-free student loan ABS issued by the Alaska Student Loan Corp. This followed Moody's placing the same issue on review for a possible downgrade the previous Friday.

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