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 2017-2018B general obligation (GO) promissory notes. We also affirmed our 'AAA' on the district's GO debt outstanding. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2017-2018B promissory notes. Officials will put note proceeds toward remodeling, site improvement projects, and the acquisition of movable equipment. 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

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2017-2018B general obligation (GO) promissory notes. We also affirmed our '###' on the district's GO debt outstanding. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2017-2018B promissory notes. Officials will put note proceeds toward remodeling, site improvement projects, and the acquisition of movable equipment. 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 revenue is the primary source of security on the bonds, which...

Summary