DBRS Assigns Provisional Ratings to Navient Student Loan Trust 2016-2

DBRS, Inc. has today assigned provisional ratings to the following classes of notes issued by Navient Student Loan Trust 2016-2:

-- Floating-Rate Class A-1 Notes rated AAA (sf)
-- Floating-Rate Class A-2 Notes rated AAA (sf)
-- Floating-Rate Class A-3 Notes rated AAA (sf)

The provisional ratings are based on a review by DBRS of the following analytical considerations:
-- The quality and credit characteristics of the student loan borrowers.
-- The transaction’s form and sufficiency of available credit enhancement and liquidity support.
-- The ability of the Servicer to perform collections on the collateral pool and other required activities.
-- The legal structure and expected legal opinions that will address the true sale of the student loans, the non-consolidation of the trust and that the trust has a valid first-priority security interest in the assets, and the consistency with the DBRS “Legal Criteria for U.S. Structured Finance” methodology.

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

The applicable methodology is Rating U.S. Private Student Loan Securitizations, which can be found on our website under Methodologies.

The full report providing additional information and analytical detail is available by clicking on the link below or by contacting us at info@dbrs.com.