OREANDA-NEWS. August 24, 2015. Fitch Ratings upgrades the long-term rating of LoanStar Asset Partners II, L.P., 1995 Master Trust Notes to 'AAsf' from 'AA-sf', and affirms the short-term rating at 'F1+sf'. The Rating Outlook for the long-term rating remains Stable.

The rating for each series of 1995 Master Trust notes is based on the support provided by a distinct direct-pay letter of credit (LOC) issued by State Street Bank and Trust Company (rated 'AA/F1+' with a Stable Outlook by Fitch). State Street is obligated to make payments of interest and principal on the bonds upon maturity, acceleration, and redemption, as well as the purchase price for tendered bonds. The ratings assigned to a series of 1995 Master Trust notes will expire upon the earliest to occur of: Dec. 23, 2019, the stated expiration date of each letter of credit, or as such date may be extended; any prior termination of a related letter of credit; and defeasance of such series of 1995 Master Trust notes.

The rating of the bonds is exclusively tied to the long- and short-term ratings that Fitch maintains on the bank providing the LOC and will reflect all changes to the bank's ratings.

No third party due diligence was provided or reviewed in relation to this rating action.

Fitch has upgraded the following ratings:

LoanStar Asset Partners II, L.P., 1995 Master Trust (fka Greater East and Greater Texas Student Loan Corp):
--Series 1995 B' to 'AAsf/F1+sf' from 'AA-sf/F1+sf'; Outlook Stable;
--Series 1995 B to 'AAsf/F1+sf' from 'AA-sf/F1+sf'; Outlook Stable;
--Series 1998A to 'AAsf/F1+sf' from 'AA-sf/F1+sf'; Outlook Stable;
--Series 2000A to 'AAsf/F1+sf' from 'AA-sf/F1+sf'; Outlook Stable.