Standard&Poor's Ratings Services assigned short-term ratings to three of the participants in the Iowa Higher Education Loan Authority's Private Education Working Capital Loan Program, revenue anticipation note (RAN) pool, series 2007, issued for the following private colleges and universities: Clarke College of Dubuque, $3.425 million series 2007A RANs, rated 'SP-1'; Dordt College, $3.06 million series 2007B RANs, rated 'SP-1'; and University of Dubuque, $7.035 million series 2007C RANs, rated 'SP-1'. RAN proceeds will be used for working capital loans to each institution, which are all nonprofit 501(c)3 corporations in Iowa. Each series of notes is secured by the full faith and credit pledge of that specific participating institution. The ratings reflect the underlying credit quality of each private
