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.' $3.5 million series 2021-2022D general obligation (GO) promissory notes. At the same time, S&P Global Ratings affirmed the college's existing GO debt. The outlook is stable. MATC's unlimited-tax GO pledge secures the series 2021-2022D promissory notes. Officials indicate they will use the note proceeds to pay the costs of building remodeling and improvement, for the acquisition of movable equipment, and for certain issuance costs. The district's debt is eligible to be rated above the sovereign because we believe MATC can maintain better credit characteristics than the nation in a stress scenario. Under our criteria, "Ratings Above The Sovereign: Corporate And Government Ratings—Methodology And Assumptions" (published

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' $3.5 million series 2021-2022D general obligation (GO) promissory notes. At the same time, S&P Global Ratings affirmed the college's existing GO debt. The outlook is stable. MATC's unlimited-tax GO pledge secures the series 2021-2022D promissory notes. Officials indicate they will use the note proceeds to pay the costs of building remodeling and improvement, for the acquisition of movable equipment, and for certain issuance costs. The district's debt is eligible to be rated above the sovereign because we believe MATC can maintain better credit characteristics than the nation in a stress scenario. Under our criteria, "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions" (published Nov. 19, 2013), we consider U.S. local governments to have moderate sensitivity to national risk....

Summary