Iowa Student Loan Liquidity Corporation, Series 2021-1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the Iowa Student Loan Liquidity Corporation Series 2021-1 (ISL 2021-1) Class A-1A Notes and Class A-1B Notes (collectively, the Notes). A portion of proceeds from the sale of the Notes will be applied to refinance student loans presently pledged by the Iowa Student Loan Liquidity Corporation under its warehouse facility. The DBRS Morningstar ratings address the timely payment of interest and the full payment of principal in accordance with the terms and conditions of the ISL 2021-1 transaction documents.