DBRS Confirms Nelnet Student Loan Trust 2012-4

DBRS, Inc. (DBRS) confirmed the rating of the Series 2012-4, Class A and Series 2012-4, Class B notes issued by the Nelnet Student Loan Trust 2012-4 asset-backed security (ABS) transaction at AAA (sf) and AA (sf), respectively. The confirmations are a result of credit enhancement levels being sufficient to cover DBRS’s expected losses at their current rating levels.

The DBRS ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to origination, underwriting and servicing.
-- Credit quality of the collateral pool and the historical performance of the Portfolio.

Notes:
The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.