Navient Private Education Refi Loan Trust 2020-B: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the Navient Private Education Refi Loan Trust 2020-B (Navient 2020-B) notes (the Notes). The DBRS Morningstar ratings of the Notes address the timely payment of interest and the full payment of principal in accordance with the terms and conditions of the Navient 2020-B transaction documents. Navient 2020-B represents the 53rd private education loan asset-backed securitization sponsored by Navient Solutions, LLC (Navient) (along with legacy SLM Corporation (SLM)), and the 19th since the spinoff from SLM in 2014. Navient, formerly known as Navient Solutions, Inc. is a wholly owned subsidiary of Navient Corporation.