Summary: University Of Dubuque, Iowa; Note

S&P Global Ratings assigned its 'SP-1' short-term rating to Iowa Higher Education Loan Authority's anticipated $6 million series 2023A revenue anticipation notes (RANs), issued for University of Dubuque (UD) as one of the participants in the authority's Private Education Working Capital Loan Program. The notes are issued for various private higher-education institutions, which are all nonprofit 501(c) 3 corporations in Iowa. Proceeds of the notes will provide funds for the authority to make individual loans to each institution. Each series of notes is separately secured by the full faith and credit pledge of that specific participating institution and payable from payments received by the authority from each institution under separate funding agreements. We understand that proceeds of the series 2023A

...S&P Global Ratings assigned its 'SP-1' short-term rating to Iowa Higher Education Loan Authority's anticipated $6 million series 2023A revenue anticipation notes (RANs), issued for University of Dubuque (UD) as one of the participants in the authority's Private Education Working Capital Loan Program. The notes are issued for various private higher-education institutions, which are all nonprofit 501(c) 3 corporations in Iowa. Proceeds of the notes will provide funds for the authority to make individual loans to each institution. Each series of notes is separately secured by the full faith and credit pledge of that specific participating institution and payable from payments received by the authority from each institution under separate funding agreements. We understand that proceeds of the series 2023A notes for UD will be used to provide working cash funding. S&P Global Ratings' long-term debt rating on UD is '###' with a negative outlook....

Summary