S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College (MATC) District, Wis.' $10 million series 2023-2024A general obligation (GO) promissory notes. At the same time, we affirmed our 'AAA' ratings on the college's existing GO debt. The outlook is stable. MATC's unlimited-tax GO pledge secures the series 2023-2024A promissory notes. Officials indicate they will use the note proceeds to pay the costs of building remodeling and improvement projects, for the acquisition of movable equipment, and for certain issuance costs. The rating reflects our view of MATC's very strong enterprise risk profile and strong financial risk profile. The enterprise risk profile reflects MATC's enrollment profile that, although pressured during the COVID-19 pandemic, has begun to stabilize serving
