NEW YORK–(BUSINESS WIRE)–Fitch Ratings has taken the following rating actions on SLM Student Loan Trust 2003-12: –Class A-5 downgraded to ‘AAsf’ from ‘AAAsf’; removed from Rating Watch Negative and assigned Outlook Negative; –Class A-6 downgraded to ‘AAsf’ from ‘AAAsf’; removed from Rating Watch Negative and assigned Outlook Negative; –Class B downgraded to ‘BBsf’ from ‘BBBsf’; removed from Rating Watch Negative and assigned Outlook Stable. Although Fitch’s cash flow model indicated a high
