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

S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College District (MATC District), Wis.' series 2015-2016F general obligation (GO) promissory notes. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the district's existing GO debt. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2015-2016F promissory notes. Officials plan to use note proceeds to pay for building remodeling, improvement projects, and equipment acquisition. The MATC District's bonds are eligible to be rated above the sovereign because we believe the college district can maintain better credit characteristics than the U.S. in a stress scenario. Under our "Ratings Above The Sovereign: Corporate And Government Ratings—Methodology And Assumptions" criteria published Nov. 19, 2013,

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College District (MATC District), Wis.' series 2015-2016F general obligation (GO) promissory notes. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the district's existing GO debt. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2015-2016F promissory notes. Officials plan to use note proceeds to pay for building remodeling, improvement projects, and equipment acquisition. The MATC District's bonds are eligible to be rated above the sovereign because we believe the college district can maintain better credit characteristics than the U.S. in a stress scenario. Under our "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions" criteria published Nov. 19, 2013, on RatingsDirect, U.S. state and local governments are considered to have moderate sensitivity to country risk. The district's local property tax revenues are...

Summary