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

S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2017-2018A general obligation (GO) promissory notes. We also affirmed our 'AAA' rating on the district's GO debt outstanding. The outlook is stable. MATC's bonds are eligible to be rated above the sovereign because we believe the district can maintain better credit characteristics than the nation 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. The district's unlimited-tax GO pledge secures the series 2017-2018A promissory notes. Officials plan to use note proceeds to pay for the cost

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2017-2018A general obligation (GO) promissory notes. We also affirmed our '###' rating on the district's GO debt outstanding. The outlook is stable. MATC's bonds are eligible to be rated above the sovereign because we believe the district can maintain better credit characteristics than the nation 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. The district's unlimited-tax GO pledge secures the series 2017-2018A promissory notes. Officials plan to use note proceeds to pay for the cost of remodeling and improvement projects, as well as the acquisition of movable equipment. The rating reflects our view of the district's:...

Summary