KBRA Assigns AA+ Rating with a Stable Outlook to the State of Wisconsin’s General Obligation Refunding Bonds of 2017, Series 3

NEW YORK--()--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.

Contacts

Analytical:
Kroll Bond Rating Agency
Kate Hackett, 646-731-2304
Managing Director
khackett@kbra.com
or
William Cox, 646-731-2472
Managing Director
wcox@kbra.com
or
Alice Cheng, 646-731-2403
Associate Director
acheng@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Kate Hackett, 646-731-2304
Managing Director
khackett@kbra.com
or
William Cox, 646-731-2472
Managing Director
wcox@kbra.com
or
Alice Cheng, 646-731-2403
Associate Director
acheng@kbra.com