Summary: Madison Area Techical College District, Wisconsin; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College (MATC) District, Wis.' $3.5 million series 2020-2021H general obligation (GO) promissory notes. The outlook is stable. MATC's unlimited-tax GO pledge secures the series 2020-2021H promissory notes. Officials indicate they will use the note proceeds to finance the construction of building additions or enlargements at the Madison campus, the acquisition of movable equipment, and certain issuance costs. The district's debt is eligible to be rated above the sovereign because we believe MATC can maintain better credit characteristics than the nation can in a stress scenario. Under our criteria "Ratings Above The Sovereign: Corporate And Government Ratings—Methodology And Assumptions" (published Nov. 19, 2013), we consider U.S. local governments to

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' $3.5 million series 2020-2021H general obligation (GO) promissory notes. The outlook is stable. MATC's unlimited-tax GO pledge secures the series 2020-2021H promissory notes. Officials indicate they will use the note proceeds to finance the construction of building additions or enlargements at the Madison campus, the acquisition of movable equipment, and certain issuance costs. The district's debt is eligible to be rated above the sovereign because we believe MATC can maintain better credit characteristics than the nation can in a stress scenario. Under our criteria "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions" (published Nov. 19, 2013), we consider U.S. local governments to have moderate sensitivity to national risk....

Summary