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 2017-2018C general obligation (GO) promissory notes. We also affirmed our 'AAA' rating on the district's GO debt outstanding. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2017-2018C notes. Officials plan to use note proceeds to pay for the cost of the acquisition of sites and construction of buildings on the Goodman South Campus and for 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

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2017-2018C general obligation (GO) promissory notes. We also affirmed our '###' rating on the district's GO debt outstanding. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2017-2018C notes. Officials plan to use note proceeds to pay for the cost of the acquisition of sites and construction of buildings on the Goodman South Campus and for 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...

Summary