Credit Rating Report

ELFI Graduate Loan Program 2020-A LLC: Rating Report

Student Loans

Summary

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the Class A, Class B, and Class C Notes (collectively, the Notes) issued by ELFI Graduate Loan Program 2020-A LLC (ELFI 2020-A). ELFI 2020-A represents the third securitization of refinanced student loans (Refinancing Loans) originated by Education Loan Finance (ELFI), a division of SouthEast Bank (the Bank).

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