Standard&Poor's Ratings Services assigned revenue anticipation note (RAN) ratings to the following participants in the Iowa Higher Education Loan Authority's Private Education Working Capital Loan Program, series 2004, as follows: University of Dubuque, Iowa ('SP-1+'), $4.0 million, series 2004C; Loras College, Iowa ('SP-1'), $3.0 million series 2004F; and Morningside College, Iowa ('SP-1+'), $6.5 million, series 2004G. The authority's series 2004 note pool is issued for nine private higher education institutions. Standard&Poor's has assigned ratings to only three of the note issues. Series A, B, D, E, H, and I are not rated. The RANs are individual working capital loans to the educational institutions, each of which is a nonprofit 501(c)(3) corporation in Iowa. All notes are
