Two student loan ABS transactions are currently in the market with a deal from the Iowa Student Loan Liquidity Corp., which is issuing its Series 2012-1 offering.

The FFELP-backed transaction is underwritten by Morgan Stanley. Standard & Poor’s and Fitch Ratings have assigned the transaction’s Class A worth $521 million preliminary ratings of ‘AA+ (sf)’ and 'AAAsf’, respectively. The Class B worth $10 million is not rated.

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