NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has removed from Rating Watch Negative and affirmed all notes issued by Rhode Island Student Loan Authority, 1993 Master Trust (RISLA). The Rating Outlook is Stable. A full list of rating actions is shown below.

Fitch placed RISLA on Rating Watch Negative on Sept. 27, 2011 due to concerns regarding tax-exempt auction rate securities exposure for student loan transactions. For additional details, refer to 'Fitch Places 16 U.S. Student Loan ABS Trust on Rating Watch Negative' dated Sept. 27, 2011.

The trust will be paid off on the next distribution date (Dec. 1, 2011), due to the refinancing of the 1993 master trust on Oct. 6, 2011. Currently the trust has enough cash to pay off the notes. As a result Fitch has removed the Rating Watch Negative on RISLA.

Fitch has removed from Rating Watch Negative and affirmed the following bonds:

RISLA 1993 Master Trust

--1994 series A at 'AAA'; Outlook Stable;

--1994 series B at 'AAA'; Outlook Stable;

--1995 series A at 'AAA'; Outlook Stable;

--1994 series II at 'BB'; Outlook Stable;

--1995 series III at 'BB'; Outlook Stable.

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' dated Aug. 13, 2010;

--'U.S. FFELP Student Loan ABS Rating Criteria' dated May 10, 2011;

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS' dated April 7, 2011;

--'Fitch Places 16 U.S. Student Loan ABS Trusts on Rating Watch Negative' dated Sept. 27, 2011.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

U.S. FFELP Student Loan ABS Surveillance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=597566

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=616766

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KEYWORDS:   United States  North America  New York  Rhode Island

INDUSTRY KEYWORDS:   Professional Services  Finance

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