NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a AA long-term rating and Stable Outlook to the State of Wisconsin’s General Obligation Bonds of 2017, Series A (“2017 Bonds”), with an estimated par amount of $340.4 million and with par and premium not to exceed $386.58 million. Concurrently, KBRA has affirmed the AA long-term rating and Stable Outlook on the State’s outstanding general obligation bonds, excluding bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
KBRA has also affirmed the K1+ ratings on the State’s general obligation commercial paper (“CP”) program, the general obligation (GO) CP 2016 Series A Notes, and the State’s GO extendible municipal commercial paper (“EMCP”) program. Including the current issuance, the State will have approximately $8.1 billion of rated general obligation debt outstanding, including approximately $624 million of GO CP and EMCP notes outstanding.
KBRA has also affirmed the AA- rating and Stable Outlook on the outstanding State of Wisconsin Master Lease Certificates of Participation (“COPs”). At December 15, 2016, the State had $116.2 million of COPs outstanding.
The long-term rating on the State’s general obligation bonds is based on KBRA’s U.S. State General Obligation Rating Methodology.
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).