Moody's affirmed NavientCorp.'s Ba3 corporate family rating, (P)Ba3 senior unsecured debt shelfrating and Ba3 senior unsecured debt rating.
The ratings outlook remains stable.
The affirmations reflect the strong asset quality of Navient's$126 billion legacy student loan portfolio, its stable earnings and solid, thoughdiminished, financial flexibility, Moody's said. The rating agency said the stableoutlook reflects its expectation that Navient will have enough resources to managethe $1.6 billion in unsecured debt maturing between now and the end of 2017 andwill be able to manage its liquidity and funding needs conservatively.