NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA+ with a Stable Outlook to the State of Wisconsin General Obligation Refunding Bonds of 2017, Series 3. KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
KBRA has also affirmed the long-term rating of AA+ with a stable outlook on the State’s outstanding general obligation bonds. KBRA has also affirmed the long-term rating of AA with a stable outlook on the State’s Master Lease Certificates of Participation (COPs). In addition, KBRA affirmed the short-term rating of K1+ on the State’s GO Commercial Paper (CP) Program and GO Extendible Municipal Commercial Paper (EMCP) Program.
| Ratings | ||||||||||||
| Issuer: | State of Wisconsin | |||||||||||
| Series/Bond | Rating | Outlook | Action | |||||||||
| General Obligation Refunding Bonds of 2017, Series 3 | AA+ | Stable | Assigned | |||||||||
| General Obligation Bonds (GO) | AA+ | Stable | Affirmed | |||||||||
| Master Lease Certificates of Participation (COPs) | AA | Stable | Affirmed | |||||||||
| GO Commercial Paper (CP) Program | K1+ | Affirmed | ||||||||||
| GO Extendible Municipal Commercial Paper (EMCP) Program | K1+ | Affirmed | ||||||||||
| KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted. | ||||||||||||
The long-term rating on the State’s general obligation bonds is based on KBRA’s U.S. State General Obligation Rating Methodology.
The short-term ratings on the State’s CP and EMCP programs are derived from the State’s long-term general obligation rating and also reflects the State’s strong liquidity, history of market access, and prior authorization to retire all CP and EMCP Notes with long term bonds. For mapping of the long-term rating to the short-term rating, please refer to the short-term KBRA Rating Scale.
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About KBRA and KBRA Europe
KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
