S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College District (MATC), Wis.' $3 million series 2024-2025I general obligation (GO) promissory notes. The outlook is stable. MATC's unlimited-tax GO pledge secures the series 2024-2025I promissory notes. Officials indicate they will use note proceeds to pay the costs of remodeling and improving buildings, acquiring movable equipment and technology, and paying 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 the college's enrollment profile, which, although pressured in the early days of the COVID-19 pandemic, has begun to stabilize. MATC serves more than 7,600 full-time students and primarily functions as a technical college.
