Summary: Madison Area Technical College Distict, Wisconsin; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2019-2020A general obligation (GO) promissory notes. At the same time, S&P Global Ratings affirmed its 'AAA' rating on MATC's existing GO debt. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2019-2020A promissory notes, which have a par amount of $5.3 million. Officials indicate they will use note proceeds for remodeling, site improvement projects, a building addition, and the acquisition of movable equipment. The district's debt is eligible to be rated above the sovereign because we believe the district can maintain better credit characteristics than the nation can in a stress scenario. Under our criteria, titled "Ratings Above The Sovereign:

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2019-2020A general obligation (GO) promissory notes. At the same time, S&P Global Ratings affirmed its '###' rating on MATC's existing GO debt. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2019-2020A promissory notes, which have a par amount of $5.3 million. Officials indicate they will use note proceeds for remodeling, site improvement projects, a building addition, and the acquisition of movable equipment. The district's debt is eligible to be rated above the sovereign because we believe the district can maintain better credit characteristics than the nation can in a stress scenario. Under our criteria, titled "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions," published Nov. 19, 2013, on RatingsDirect, we consider U.S. local governments to have moderate sensitivity to national risk. Despite...

Summary