...S&P Global Ratings assigned its '##+' rating to Madison Metropolitan School District, Wis.' $106 million series 2022 general obligation (GO) school building and facility improvement bonds. At the same time, we affirmed our '##+' rating on the district's existing GO debt. The outlook is stable. "The '##+' rating further reflects our opinion of the district's participation in the broad and diverse Madison metropolitan statistical area (MSA) economy, very strong operating reserves, good Financial Management Assessment (FMA), moderate overall debt including additional debt plans; and favorable pension position," said S&P Global Ratings Scott Nees. The 2022 bonds are the second tranche of $317 million in GO debt authorized by district voters in a November 2020 referendum. Proceeds will finance various improvements to all four district high schools, land acquisition and the construction of a new elementary school, and the remodeling of an existing school to relocate a high school, among other...
