NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms all ratings for the outstanding notes issued by National Collegiate Trusts 2003-1, 2004-1, and 2004-2, with the exception of the class B note from the 2004-2 trust. Fitch has downgraded the 2004-2 class B note to 'Csf' from 'CCsf' to reflect the revised recovery estimate (RE) to 0% from 55%. A detailed list of rating actions follows at the end of this press release. KEY RATING DRIVERS Collateral Quality: All trusts are collateralized by private s
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