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

S&P Global Ratings assigned its 'AAA' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2016-2017D general obligation (GO) promissory notes. At the same time, we affirmed our 'AAA' long-term rating on the district's existing GO debt. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2016-2017D promissory notes. Officials plan to use note proceeds to pay for building remodeling and improvement projects. 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

...S&P Global Ratings assigned its '###' long-term rating to Madison Area Technical College (MATC) District, Wis.' series 2016-2017D general obligation (GO) promissory notes. At the same time, we affirmed our '###' long-term rating on the district's existing GO debt. The outlook is stable. The district's unlimited-tax GO pledge secures the series 2016-2017D promissory notes. Officials plan to use note proceeds to pay for building remodeling and improvement projects. 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 revenues are the primary source of security on the bonds,...

Summary