Correction: Fitch Places 404 ABS Bonds on WatchNegative Following Ambac Rating Action.

NEW YORK -- (This is an amended version of a press release issued Dec. 21, 2007, revising the number of bonds being placed on Rating Watch Negative. The ratings for Vermont Student Assistance Corp. are now included in the release.)

Fitch Ratings places 404 classes of asset-backed securities

(ABS) on Rating Watch Negative. This action follows Fitch's placement of Ambac Financial Group, Inc. and its financial guaranty insurance subsidiaries' Insurer Financial Strength (IFS) rating of 'AAA' on Rating Watch Negative. For more information please refer to 'Fitch Places Ambac on Rating Watch Negative on CDO & RMBS Review', dated Dec. 21, 2007, available on the Fitch Ratings web site at www.fitchratings.com.

The ratings of the following ABS transactions are supported by a financial guaranty policy provided by Ambac Assurance Corp., a subsidiary of Ambac Financial Group, Inc., and are therefore placed on Rating Watch Negative.

Fitch has placed the following aircraft transactions on Rating Watch Negative:

Babcock & Brown Air Funding I Limited 2007-1

--Class G-1 notes 'AAA'.

Fitch has placed the following auto loan transactions on Rating Watch Negative:

AmeriCredit Automobile Receivables Trust 2004-C-A

--Class A-4 notes 'AAA';

AmeriCredit Automobile Receivables Trust 2005-D-A

--Class A-3 notes 'AAA';

--Class A-4 notes 'AAA'.

Capital One Auto Finance Trust 2004-A

--Class A-4 notes 'AAA'.

Capital One Auto Finance Trust 2005-A

--Class A-4 notes 'AAA'.

Capital One Auto Finance Trust 2006-A

--Class A-3 notes 'AAA';

--Class A-4 notes 'AAA'.

Capital One Auto Finance Trust 2007-A

--Class A-2 notes 'AAA';

--Class A-3-A notes 'AAA';

--Class A-3-B notes 'AAA';

--Class A-4 notes 'AAA'.

Triad Automobile Receivables Trust 2004-A

--Class A-4 notes 'AAA'.

Fitch has placed the following credit card transactions on Rating Watch Negative:

Washington Mutual Master Trust 2001-D

--Class A notes 'AAA'.

Fitch has placed the following rental car transactions on Rating Watch Negative:

Rental Car Finance Corp. Series 2004-1

--Class A notes 'AAA'.

Rental Car Finance Corp. Series 2006-1

--Class A notes 'AAA'.

Hertz Vehicle Financing LLC 2005-2

--Class A-1 notes 'AAA';

--Class A-2 notes 'AAA';

--Class A-3 notes 'AAA';

--Class A-4 notes 'AAA';

--Class A-5 notes 'AAA';

--Class A-6 notes 'AAA'.

Fitch has placed the following student loan transactions on Rating Watch Negative:

Access to Loans for Learning Student Loan Corp. - 1998 Master Trust V (CA), 2006

--Class V-A-3 notes 'AAA';

--Class V-A-4 notes 'AAA';

--Class V-A-5 notes 'AAA'.

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 1997

--Class A 7/1/08 'AAA';

--Class A 7/1/09 'AAA';

--Class A 7/1/10 'AAA';

--Class A 7/1/11 'AAA';

--Class A 7/1/12 'AAA';

--Class A 7/1/13 'AAA';

--Class A 7/1/14 'AAA'.

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 1998

--Class A 7/1/08 'AAA';

--Class A 7/1/09 'AAA';

--Class A 7/1/10 'AAA';

--Class A 7/1/11 'AAA';

--Class A 7/1/12 'AAA';

--Class A 7/1/13 'AAA';

--Class A 7/1/14 'AAA';

--Class A 7/1/15 'AAA'.

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 1999

--Class A 7/1/08 'AAA';

--Class A 7/1/09 'AAA';

--Class A 7/1/10 'AAA';

--Class A 7/1/11 'AAA';

--Class A 7/1/12 'AAA';

--Class A 7/1/13 'AAA';

--Class A 7/1/14 'AAA';

--Class A 7/1/15 'AAA';

--Class A 7/1/16 'AAA'.

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 2000

--Class A 7/1/08 'AAA';

--Class A 7/1/09 'AAA';

--Class A 7/1/10 'AAA';

--Class A 7/1/11 'AAA';

--Class A 7/1/12 'AAA';

--Class A 7/1/13 'AAA';

--Class A 7/1/14 'AAA';

--Class A 7/1/15 'AAA';

--Class A 7/1/16 'AAA';

--Class A 7/1/17 'AAA'.

Alaska Student Loan Corp. - 1988 Indenture of Trust (AK), 2001

--Class A 7/1/08 'AAA';

--Class A 7/1/09 'AAA';

--Class A 7/1/10 'AAA'.

CollegeInvest - March 1, 1999 Indenture of Trust, 1989

--Class A 'AAA';

CollegeInvest - March 1, 1999 Indenture of Trust, 1990

--Class A 'AAA';

CollegeInvest - March 1, 1999 Indenture of Trust, 1999

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA'.

Connecticut Higher Education Supplemental Loan Authority - Amended and Restated 1996 Master (CT), 1998

--Class A-08 'AAA';

--Class A-09 'AAA';

--Class A-10 'AAA';

--Class A-11 'AAA';

--Class A-12 'AAA';

--Class A-13 'AAA';

--Class A-14 'AAA';

--Class A-15 'AAA';

--Class A-16 'AAA'.

Connecticut Higher Education Supplemental Loan Authority - Amended and Restated 1996 Master (CT), 1999

--Class A 11/15/08 'AAA';

--Class A 11/15/09 'AAA';

--Class A 11/15/10 'AAA';

--Class A 11/15/11 'AAA';

--Class A 11/15/12 'AAA';

--Class A 11/15/13 'AAA';

--Class A 11/15/18 'AAA'.

Finance Authority of Maine Indenture of Trust dated as of December 1, 2003 (ME), 2007

--Class A-1 'AAA';

--Class A-2 'AAA';

--Class A-3 'AAA'.

Iowa Student Loan Liquidity Corporation 2005 C-I

--Class C-I 'AAA'.

Iowa Student Loan Liquidity Corporation 2005 C-II

--Class C-II 'AAA'.

Iowa Student Loan Liquidity Corporation 2007

--Class D 'AAA';

--Class E-I 'AAA';

--Class E-II 'AAA';

--Class E-III 'AAA'.

KeyCorp Student Loan Trust 2002-A (Group II)

--Class II-A-2 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 1996

--Class A-1 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 1997

--Class A-1 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 1999

--Class A-1 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 2000

--Class A-1 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 2002

--Class A-1B 'AAA';

--Class A-2 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 2005

--Class A-1 'AAA'.

Maine Education Loan Authority 1996 Trust Indenture, 2007

--Class A-1 'AAA'.

Maine Educational Loan Marketing Corp - Amended and Restated 1999 Indenture of Trust (1994) (ME), 1994

--Class A-2 'AAA';

--Class A-3 'AAA'.

Maine Educational Loan Marketing Corp - Amended and Restated 1999 Indenture of Trust (1994) (ME), 1997

--Class A-2 'AAA'.

Maine Educational Loan Marketing Corp - Amended and Restated 1999 Indenture of Trust (1994) (ME), 1999

--Class A-2 'AAA';

--Class A-3 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 1995

--Class A 12/1/08 'AAA';

--Class A 12/1/10 'AAA';

--Class A 12/1/11 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 1997

--Class B 7/1/08 'AAA';

--Class B 7/1/09 'AAA';

--Class B 7/1/10 'AAA';

--Class B 7/1/11 'AAA';

--Class B 7/1/12 'AAA';

--Class B 7/1/14 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 1999

--Class B 7/1/08 'AAA';

--Class B 7/1/09 'AAA';

--Class B 7/1/10 'AAA';

--Class B 7/1/11 'AAA';

--Class B 7/1/12 'AAA';

--Class B 7/1/13 'AAA';

--Class B 7/1/14 'AAA';

--Class B 7/1/15 'AAA';

--Class B 7/1/16 'AAA';

--Class B 7/1/17 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2001

--Class A 1/1/08 'AAA';

--Class A 1/1/10 'AAA';

--Class A 1/1/11 'AAA';

--Class A 1/1/13 'AAA';

--Class A 1/1/16 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2002

--Class A 1/1/08 'AAA';

--Class A 1/1/09 'AAA';

--Class A 1/1/10 'AAA';

--Class A 1/1/11 'AAA';

--Class A 1/1/12 'AAA';

--Class A 1/1/13 'AAA';

--Class A 1/1/14 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AAA';

--Class E 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2003

--Class A 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AAA';

--Class E 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2004

--Class A 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2005

--Class A 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2006

--Class 2006A-1 'AAA';

--Class 2006A-2 'AAA';

--Class 2006B 'AAA';

--Class 2006C 'AAA';

--Class 2006D 'AAA'.

Massachusetts Educational Financing Authority - Amended and Restated 2001 General Resolution 1992 (MA), 2007

--Class 2007A-1 'AAA';

--Class 2007A-2 'AAA';

--Class 2007A-3 'AAA';

--Class 2007B 'AAA';

--Class 2007C 'AAA';

--Class 2007D 'AAA';

--Class 2007E 'AAA'.

Michigan Higher Educational Student Loan Authority - 1988 Indenture, 1996

--Class XII-N 'AAA'.

Michigan Higher Educational Student Loan Authority - 1988 Indenture, 1999

--Class XII-Q 9/1/08 'AAA';

--Class XII-Q 3/1/09 'AAA';

--Class XII-Q 9/1/10 'AAA';

--Class XII-R-1 'AAA';

--Class XII-R-2 'AAA'.

Michigan Higher Educational Student Loan Authority - 1988 Indenture, 2000

--Class XII-T 9/1/08 'AAA';

--Class XII-T 3/1/09 'AAA';

--Class XII-T 9/1/10 'AAA';

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 1997-XVII

--Class A 6/1/08 'AAA';

--Class A 6/1/09 'AAA';

--Class A 6/1/10 'AAA';

--Class A 6/1/13 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 1998-XVII

--Class B 6/1/08 'AAA';

--Class B 6/1/18 'AAA';

--Class C 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2001-XVII

--Class D 'AAA'

--Class E 6/1/19 'AAA';

--Class E 6/1/25 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2002-XVII

--Class F 'AAA';

--Class G 'AAA';

--Class H-1 'AAA';

--Class H-2 'AAA';

--Class H-3 'AAA';

--Class H-4 'AAA';

--Class H-5 'AAA';

--Class H-6 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2003-XVII

--Class I-1 'AAA';

--Class I-2 'AAA';

--Class I-3 'AAA';

--Class I-4 'AAA';

--Class I-5 'AAA';

--Class I-6 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2004-XVII

--Class J 'AAA';

--Class K-1 'AAA';

--Class K-2 'AAA';

--Class K-3 'AAA';

--Class K-4 'AAA';

--Class K-5 'AAA';

--Class K-6 'AAA';

--Class K-7 'AAA';

--Class L 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2005-XVII

--Class M-1 'AAA';

--Class M-2 'AAA';

--Class N-1 'AAA';

--Class N-2 'AAA';

--Class N-3 'AAA';

--Class N-4 'AAA';

--Class N-5 'AAA';

--Class N-6 'AAA';

--Class N-7 'AAA';

--Class O 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2005-XVII-P

--Class P 'AAA'.

Michigan Higher Education Student Loan Authority - 1996 General Indenture (MI), 2006-XVII-Q

--Class Q 3/1/17 'AAA';

--Class Q 3/1/26 'AAA';

--Class Q 3/1/31 'AAA'.

Missouri Higher Education Loan Authority - 1995 12th General Resolution (MO), 1995A

--Class A 'AAA'.

Missouri Higher Education Loan Authority - 1995 12th General Resolution (MO), 1995B

--Class B 'AAA'.

Missouri Higher Education Loan Authority - 1995 12th General Resolution (MO), 1995C

--Class C 'AAA'.

Missouri Higher Education Loan Authority - 1995 12th General Resolution (MO), 1995D

--Class D 'AAA'.

Missouri Higher Education Loan Authority - 1995 12th General Resolution (MO), 2006I

--Class I 'AAA'.

Missouri Higher Education Loan Authority - 1995 12th General Resolution (MO), 2006J

--Class J 'AAA'.

National Collegiate Master Student Loan Trust I - Amended and Restated 2002 General Indenture (2001), 2002

--Class A-4 'AAA';

--Class A-5 'AAA';

--Class A-6 'AAA';

--Class A-7 'AAA';

--Class A-8 'AAA';

--Class A-9 'AAA';

--Class A-10 'AAA'.

National Collegiate Master Student Loan Trust I - Amended and Restated 2002 General Indenture (2001), 2003

--Class A-11 'AAA';

--Class A-12 'AAA';

--Class A-13 'AAA';

--Class A-14 'AAA'.

National Collegiate Master Student Loan Trust I - Amended and Restated 2002 General Indenture (2001), 2005

--Class A-15 'AAA';

--Class A-16 'AAA'.

National Collegiate Student Loan Trust 2007-3

--Class A-1-L 'AAA';

--Class A-2-AR-1 'AAA';

--Class A-2-AR-2 'AAA';

--Class A-2-AR-3 'AAA';

--Class A-2-AR-4 'AAA';

--Class A-3-AR-1 'AAA';

--Class A-3-AR-2 'AAA';

--Class A-3-AR-3 'AAA';

--Class A-3-AR-4 'AAA';

--Class A-3-AR-5 'AAA';

--Class A-3-AR-6 'AAA';

--Class A-3-AR-7 'AAA';

--Class A-3-L 'AAA';

--Class A-IO 'AAA'.

National Collegiate Student Loan Trust 2007-4

--Class A-1-L 'AAA';

--Class A-2-AR-1 'AAA';

--Class A-2-AR-2 'AAA';

--Class A-2-AR-3 'AAA';

--Class A-2-AR-4 'AAA';

--Class A-3-AR-1 'AAA';

--Class A-3-AR-2 'AAA';

--Class A-3-AR-3 'AAA';

--Class A-3-AR-4 'AAA';

--Class A-3-AR-5 'AAA';

--Class A-3-AR-6 'AAA';

--Class A-3-AR-7 'AAA';

--Class A-3-L 'AAA';

--Class A-IO 'AAA'.

North Dakota Student Loan Trust, 2000

--Class A 'AAA';

--Class B 'AAA'.

North Texas Higher Education Authority, Inc. - Second 1991 Indenture of Trust, 2006

--Class D 'AAA/F1+'.

North Texas Higher Education Authority, Inc. - April 1, 2006 Indenture of Trust, 2006

--Class A 'AAA/F1+';

--Class B 'AAA/F1+';

--Class C 'AAA/F1+'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 1997

--Class 1 notes 'AAA';

--Class 2 12/1/08 notes 'AAA';

--Class 2 12/1/12 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 1998

--Class 1 notes 'AAA';

--Class 2 12/1/08 notes 'AAA';

--Class 2 12/1/09 notes 'AAA';

--Class 2 12/1/10 notes 'AAA';

--Class 2 12/1/11 notes 'AAA';

--Class 2 12/1/12 notes 'AAA';

--Class 2 12/1/13 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 1999

--Class 1 notes 'AAA';

--Class 2 12/1/08 notes 'AAA';

--Class 2 12/1/09 notes 'AAA';

--Class 2 12/1/10 notes 'AAA';

--Class 2 12/1/11 notes 'AAA';

--Class 2 12/1/12 notes 'AAA';

--Class 2 12/1/13 notes 'AAA';

--Class 2 12/1/14 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 2000

--Class 1 notes 'AAA';

--Class 2 notes 'AAA';

--Class 3 12/1/08 notes 'AAA';

--Class 3 12/1/09 notes 'AAA';

--Class 3 12/1/10 notes 'AAA';

--Class 3 12/1/11 notes 'AAA';

--Class 3 12/1/12 notes 'AAA';

--Class 3 12/1/13 notes 'AAA';

--Class 3 12/1/14 notes 'AAA';

--Class 3 12/1/15 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 2001

--Class 1 notes 'AAA';

--Class 2 notes 'AAA';

--Class 3 12/1/08 notes 'AAA';

--Class 3 12/1/09 notes 'AAA';

--Class 3 12/1/10 notes 'AAA';

--Class 3 12/1/11 notes 'AAA';

--Class 3 12/1/12 notes 'AAA';

--Class 3 12/1/13 notes 'AAA';

--Class 3 12/1/14 notes 'AAA';

--Class 3 12/1/15 notes 'AAA';

--Class 3 12/1/16 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 2002

--Class 1 notes 'AAA';

--Class 2 notes 'AAA';

--Class 3 12/1/09 notes 'AAA';

--Class 3 12/1/11 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 2003-1

--Class 1 notes 'AAA';

--Class 2 notes 'AAA';

--Class 3 notes 'AAA'.

Rhode Island Student Loan Authority - 1997 Master Trust (RI) 2003-2

--Class 4 notes 'AAA';

--Class 5 notes 'AAA';

Rhode Island Student Loan Authority - 2004 Trust (RI) 2004

--Class A-1 notes 'AAA';

--Class A-2 notes 'AAA';

--Class A-3 12/1/08 notes 'AAA';

--Class A-3 12/1/09 notes 'AAA';

--Class A-3 12/1/10 notes 'AAA';

--Class A-3 12/1/11 notes 'AAA';

--Class A-3 12/1/12 notes 'AAA';

--Class A-3 12/1/13 notes 'AAA';

--Class A-3 12/1/14 notes 'AAA';

--Class A-3 12/1/15 notes 'AAA';

--Class A-3 12/1/16 notes 'AAA';

--Class A-3 12/1/18 notes 'AAA'.

Rhode Island Student Loan Authority - 2004 Trust (RI) 2006

--Class A-1 notes 'AAA';

--Class A-2 notes 'AAA';

--Class A-3 12/1/16 notes 'AAA';

--Class A-3 12/1/21 notes 'AAA';

--Class A-3 12/1/26 notes 'AAA'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 1988

--Class C notes 'AAA/F1+'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 1994

--Class K notes 'AAA'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 1995

--Class L notes 'AAA/F1+';

--Class N notes 'AAA'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 1996

--Class P 5/1/08 notes 'AAA';

--Class Q notes 'AAA/F1+'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 1997

--Class R notes 'AAA/F1+'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 2000

--Class S notes 'AAA';

--Class T notes 'AAA';

--Class U notes 'AAA'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 2003

--Class V notes 'AAA'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 2005

--Class W notes at 'AAA/F1+';

--Class X notes at 'AAA/F1+'.

State Board of Regents of the State of Utah - 1988 General Indenture (UT), 2007

--Class Y notes at 'AAA/F1+'.

State of Ohio - Student Loan Revenue Bonds, 2006A

--Class ARCs 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 1995

--Class A 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 1996

--Class F 'AAA';

--Class G 'AAA';

--Class H 'AAA';

--Class I 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 1998

--Class K 'AAA';

--Class L 'AAA';

--Class M 'AAA';

--Class N 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2000

--Class R 'AAA';

--Class S 'AAA';

--Class T 'AAA';

--Class U 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2001

--Class AA 'AAA';

--Class V 'AAA';

--Class W 'AAA';

--Class X 'AAA';

--Class Y 'AAA';

--Class Z 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2002

--Class BB 'AAA';

--Class CC 'AAA';

--Class DD 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2003

--Class FF 'AAA';

--Class FF 'AAA';

--Class GG 'AAA';

--Class HH 'AAA';

--Class II 'AAA';

--Class JJ 'AAA';

--Class KK 'AAA';

--Class LL 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2004

--Class MM 'AAA';

--Class NN 'AAA';

--Class OO 'AAA';

--Class PP 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2005

--Class QQ 'AAA';

--Class RR 'AAA';

--Class SS 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2006

--Class TT 'AAA';

--Class UU 'AAA';

--Class VV 'AAA'.

Vermont Student Assistance Corp. - 1995 Bond Resolution, 2007

--Class WW 'AAA';

--Class XX 'AAA';

--Class YY 'AAA'.

The following aircraft class remains on Rating Watch Negative. The class is supported by a financial guaranty policy provided by Financial Guaranty Insurance Company (FGIC), MBIA Insurance Corp., and Ambac Assurance Corp:

Aviation Capital Group Trust III 2005-1

--Class G-1 notes 'AAA'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.