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.' $4.5 million series 2019-2020E general obligation (GO) promissory notes and $8.095 million series 2020 taxable GO refunding bonds. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2019-2020E promissory notes and series 2020 refunding bonds. Officials indicate they will use note proceeds for remodeling, site improvement projects, the acquisition of movable equipment, and certain issuance costs; the series 2020 refunding bonds will be used to refund a portion of the existing debt for savings. The district's debt is eligible to be rated above the sovereign because we believe MATC can maintain better credit characteristics than the nation can in a stress

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' $4.5 million series 2019-2020E general obligation (GO) promissory notes and $8.095 million series 2020 taxable GO refunding bonds. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2019-2020E promissory notes and series 2020 refunding bonds. Officials indicate they will use note proceeds for remodeling, site improvement projects, the acquisition of movable equipment, and certain issuance costs; the series 2020 refunding bonds will be used to refund a portion of the existing debt for savings. The district's debt is eligible to be rated above the sovereign because we believe MATC 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), we consider U.S. local governments to have...

Summary