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Fitch affirms Navient ratings

Fitch Ratings has affirmed Navient Corp.'s long-term issuer default rating at BB, short-term issuer default rating at B and senior unsecured debt rating at BB.

The rating outlook is stable.

The rating action took into account Navient's strong market position and demonstrated servicing track record in the student loan servicing space, the low credit risk and predictable cash flow nature of its federal student loan assets and fee-based businesses, appropriate risk-adjusted capitalization, adequate liquidity and seasoned management team.

The rating agency said the stable outlook reflects the company's ability to continue to access the unsecured debt and asset-backed securities markets at a reasonable cost, its maintenance of strong liquidity levels commensurate with upcoming debt maturities, its ability to appropriately manage credit risk on private student loans, and the moderate demand on capital and liquidity from new business initiatives.