IHELA has entered into agreements with Moody's and Standard & Poor's to offer confidential credit assessment services to Iowa's private colleges and universities. Each participating institution may choose from either rating agency when seeking such services. IHELA's credit assessment program is aimed at the following candidates: schools contemplating an underlying rating as part of an expected capital financing, schools with recent changes in administration, and schools who have been inactive borrowers who seek an objective opinion on financial standing. Each participating institution will receive a detailed report and analysis of the factors influencing the rating determination, and a comprehensive list of strengths and weaknesses that would potentially impact the institutions creditworthiness.

While specific data requirements will vary between rating agencies, generally, each institution will be expected to provide the following information:

1. 3 years audited financial statements
2. 5 years of enrollment, student demand, and tuition statistics
3. Current year budget and YTD financial information
4. Details on proposed capital project(s)
5. Any additional information providing background on institutional mission and strategic plans

IHELA will subsidize the cost of the credit assessment on behalf of each participating institution. If the institution receives a satisfactory assessment and decides to secure a full rating, the assessment subsidy will be credited toward the institution's final rating fee. In return, the institution commits to using the Authority as issuer on its next stand-alone capital financing. Once a credit assessment has been issued, a minimum three-year period is required between credit assessments in order to qualify for future Authority subsidies. Please call IHELA with additional questions or for details on applying for an assessment.