Fitch Affirms 2 Classes from Mississippi HE Assistance Corp, 1993 Master Trust; Assigns Outlook

Fitch's Global Structured Finance Rating Criteria was used to review the ratings and the affirmation is based on the performance of the trust in-line with the expectation. The existence of auction rate securities has not had a significant impact on the trust performance. The Stable Outlook is assigned because, with the significant buildup of parity for the senior notes, the ratings are expected to remain stable for the next two years. The subordinate student loan notes which are on Rating Watch Negative will be reviewed separately upon the completion of the updated basis risk analysis.

The collateral supporting the MHEAC 1993 Master Trust bonds consists entirely of federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP). FFELP loans are guaranteed at least 97% of principal and accrued interest, depending on the loan origination date. The loans are serviced by Chase Student Loan Servicing and AES, neither of which carry a Fitch rating.

Fitch affirms and assigns Outlooks to the following senior classes of MHEAC 1993 Master Trust:

--Class 1996-A bonds at 'AAA/LS1'; Outlook Stable;

--Class 1998-B bonds at 'AAA/LS1'; Outlook Stable.

The following applicable criteria report is available on Fitch's web site at 'www.fitchratings.com': 'Global Structured Finance Rating Criteria', dated Sept. 30, 2009.

Additional information is available at 'www.fitchratings.com'.

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