NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the North Carolina State Education Assistance Authority series 2012-1 notes at 'AAAsf' with a Stable Rating Outlook KEY RATING DRIVERS High Collateral Quality: The trust collateral comprises Federal Family Education Loan Program (FFELP) loans with guaranties provided by eligible guarantors and reinsurance provided by the U.S. Department of Education (ED) for at least 97% of principal and accrued interest. Fitch's current U.S. sovereign ratin