S&P Global Ratings assigned its 'SP-1' short-term rating to Iowa Higher Education Loan Authority's series 2018 A revenue anticipation notes (RANs), issued for Dubuque University (UD) as one of the participants in the authority's Private Education Working Capital Loan Program. We have not been asked to rate the other note participants. The prior version of this report described an incorrect estimation of debt service coverage due to incorrect cash flow information provided by the issuer. The revised cash flow information results in a significant change in our estimated coverage, with a new estimate of 1.06x versus the original estimate of 2.26x. We have determined that the 'SP-1' rating is still appropriate for this transaction, given the school's historical coverage that
